North Carolina H950 modifies the elderly or disabled property tax homestead exclusion by raising the age requirement, removing the income eligibility.

North Carolina H950 modifies the elderly or disabled property tax homestead exclusion by raising the age requirement to 70 years or older, removing the income eligibility limit, and excluding 100% of the appraised value of the residence from taxation. The bill also removes the requirement for separate applications for the exclusion when property is owned by multiple individuals, each of whom qualifies. The changes apply to taxes imposed for taxable years beginning on or after July 1, 2008.

North Carolina H950 modifies the elderly or disabled property tax homestead exclusion by raising the age requirement, removing the income eligibility.

North Carolina H950 modifies the elderly or disabled property tax homestead exclusion by raising the age requirement to 70 years or older, removing the income eligibility limit, and excluding 100% of the appraised value of the residence from taxation. The bill also removes the requirement for separate applications for the exclusion when property is owned by multiple individuals, each of whom qualifies. The changes apply to taxes imposed for taxable years beginning on or after July 1, 2008.