Did you know that some North Carolina homeowners can benefit from one of three state programs that offer property tax relief? It’s true! If you are a disable vet, low-income, or elderly, you might qualify for property tax relief!
Deferral Program for Disabled or Elderly Homeowners
The first program is a deferral program. It makes it so that eligible property owners can defer their property taxes to pay at a future date. Many choose to use this program until they sell their property. It benefits disabled or elderly residents in North Carolina with income that doesn’t exceed 150 percent of the income eligibility limit for Homestead Exclusion. Of course, you have to apply annually and there are strict qualifications, but it is especially helpful for homeowners trying to sell their homes on a limited income.
Low-Income Homestead Exclusion
Qualified low-income homeowners may seek property tax relief. Since every dollar counts when you’re on a fixed-income like social security, for many homeowners, this can be a very helpful program. Qualified homeowners apply at their Assessor’s Office between January 1 and June 1 every year. Qualifying homeowners get to exclude either $29,500, or 50 percent (whichever is greater) from the taxable value of their residences!
Disabled Veterans Homestead Exclusion
Are you a veteran with a 100 percent total and permanent disability? Do you have an honorable discharge? Are you a surviving, unmarried spouses of a disabled veteran? Then, check to see if you qualify for the disabled veteran homestead exclusion. If you qualify, North Carolina will exclude the first $45,000 of the assessed value of your property from property taxes. Plus, there is no age or income requirement for this program.
Are You Looking for a New Home in Charlotte?
If you’re moving to Charlotte, we can help you find the perfect home, no matter what you’re looking for. Looking for a home with green amenities like solar panels or geothermal systems? Let us know! Give us a call at 704-608-2794 or get in touch with us online to let us know what you’re looking for. We’ll help you find it!
Check out our:
Looking outside the city? Check out:
- Ballantyne homes for sale
- Harrisburg homes for sale
- Steele Creek and Lake Wylie homes for sale
- Concord homes for sale
- Mint Hill homes for sale
- Waxhaw homes for sale
- Weddington homes for sale
- Matthews homes for sale
- Huntersville homes for sale
- Union County homes for sale