North Carolina Homestead Act
STATE OF NORTH CAROLINA,
YEAR 2008 COUNTY OF _____________________
APPLICATION FOR EXCLUSION UNDER G.S. 105-277.1
PROPERTY TAX RELIEF FOR ELDERLY AND PERMANENTLY DISABLED PERSONS
North Carolina excludes from property taxes the greater of twenty-five thousand
dollars ($25,000) or fifty percent (50%) of the appraised value of a permanent
residence owned and occupied by a qualifying owner. A qualifying owner is an
owner who meets all of the following requirements as of January 1 preceding the
taxable year for which the benefit is claimed:
(1) Is at least 65 years of age or totally and permanently disabled.
(2) Has an income for the preceding calendar year of not more than twenty-five
thousand dollars ($25,000).
(3) Is a North Carolina resident.
Income is defined as all moneys received from every source other than gifts or
inheritances received from a spouse, lineal ancestor, or lineal descendant. For
married applicants residing with their spouses, the income of both spouses must
be included, whether or not the property is in both names.
If a claimant's income for 2007 was $4,000.00 and this person had $6,000.00 in
Social Security benefits which were not taxable, his income for 2007 would be
$10,000.00. Assuming this was all of the claimant's income for 2007 and he was
at least 65 years of age or totally and permanently disabled, he would qualify
for the Homestead Exclusion for tax year 2008.
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