Expands the elderly or disabled property tax homestead exclusion in North Carolina.

The bill modifies the elderly or disabled property tax homestead exclusion in North Carolina. It increases the exclusion amount to the greater of $25,000 or 50% of the appraised value of the residence. The bill also adjusts the income eligibility limit, which is set at $48,000 for the taxable year beginning on or after July 1, 2026. This change affects qualifying owners who are at least 65 years old or totally and permanently disabled, and who meet income and residency requirements.

Expands the elderly or disabled property tax homestead exclusion in North Carolina.

The bill modifies the elderly or disabled property tax homestead exclusion in North Carolina. It increases the exclusion amount to the greater of $25,000 or 50% of the appraised value of the residence. The bill also adjusts the income eligibility limit, which is set at $48,000 for the taxable year beginning on or after July 1, 2026. This change affects qualifying owners who are at least 65 years old or totally and permanently disabled, and who meet income and residency requirements.