H1181

Property tax modifications for North Carolina include changes to the homestead circuit breaker, excise tax on controlling interest transfers, and.

North Carolina H1181 modifies the property tax homestead circuit breaker by allowing married couples to qualify if their income does not exceed 115% of the income eligibility limit. It eliminates deferred tax liability for the circuit breaker and expands eligibility based on area median income. The bill also imposes an excise tax on the transfer of controlling interests in entities holding real property interests.