North Carolina 2025-2026 Regular Session

North Carolina House Bill H59 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		GENERAL ASSEMBLY OF NORTH CAROLINA
2	2		SESSION 2025
3		-	H 1
4		-	HOUSE BILL 59
	3	+	H D
	4	+	HOUSE BILL DRH40047-BAf-3
	5	+
5	6
6	7
7	8		Short Title: Expand Elderly/Disabled Homestead Exclusion. (Public)
8		-	Sponsors: Representatives Paré, Cotham, Schietzelt, and Echevarria (Primary Sponsors).
9		-	For a complete list of sponsors, refer to the North Carolina General Assembly web site.
10		-	Referred to: Finance, if favorable, Rules, Calendar, and Operations of the House
11		-	February 6, 2025
12		-	H59-v-1
	9	+	Sponsors: Representative Paré.
	10	+	Referred to:
	11	+
	12	+	DRH40047 -BAf-3
13	13		A BILL TO BE ENTITLED 1
14	14		AN ACT TO EXPAND THE ELDERLY OR DISABLED PROPERTY TAX HOMESTEAD 2
15	15		EXCLUSION. 3
16	16		The General Assembly of North Carolina enacts: 4
17	17		SECTION 1. G.S. 105-277.1 reads as rewritten: 5
18	18		"§ 105-277.1. Elderly or disabled property tax homestead exclusion. 6
19	19		(a) Exclusion. – A permanent residence owned and occupied by a qualifying owner is 7
20	20		designated a special class of property under Article V, Sec. 2(2) of the North Carolina 8
21	21		Constitution and is taxable in accordance with this section. The amount of the appraised value of 9
22	22		the residence equal to the exclusion amount is excluded from taxation. The exclusion amount is 10
23	23		the greater of twenty five twenty-five thousand dollars ($25,000) or fifty percent (50%) of the 11
24	24		appraised value of the residence. An owner who receives an exclusion under this section may not 12
25	25		receive other property tax relief. 13
26	26		A qualifying owner is an owner who meets all of the following requirements as of January 1 14
27	27		preceding the taxable year for which the benefit is claimed: 15
28	28		(1) Is at least 65 years of age or totally and permanently disabled. 16
29	29		(2) Has an one or more of the following: 17
30	30		a. An income for the preceding calendar year of not more than the 18
31	31		income eligibility limit. 19
32	32		b. An income for the preceding calendar year of not more than eighty 20
33	33		percent (80%) of the applicable area median income for a household 21
34	34		of two persons in the county in which the property is located; provided, 22
35	35		that the owner has owned and occupied the property as a permanent 23
36	36		residence for the previous 15 consecutive years. For purposes of this 24
37	37		sub-subdivision, "applicable area median income" is the most recent 25
38	38		figure reported by the United States Department of Housing and Urban 26
39	39		Development as of January 1 preceding the taxable year for which the 27
40	40		benefit is claimed. 28
41	41		(3) Is a North Carolina resident. 29
42	42		… 30
43	43		(a2) Income Eligibility Limit. – For the taxable year beginning on July 1, 2008, 2026, the 31
44	44		income eligibility limit is twenty-five thousand dollars ($25,000). forty-eight thousand dollars 32
45	45		($48,000). For taxable years beginning on or after July 1, 2009, 2027, the income eligibility limit 33
46	46		is the amount for the preceding year, adjusted by the same percentage of this amount as the 34
47		-	percentage of any cost-of-living adjustment made to the benefits under Titles II and XVI of the 35 General Assembly Of North Carolina Session 2025
48		-	Page 2 House Bill 59-First Edition
49		-	Social Security Act for the preceding calendar year, rounded to the nearest one hundred dollars 1
50		-	($100.00). On or before July 1 of each year, the Department of Revenue must determine the 2
51		-	income eligibility amount to be in effect for the taxable year beginning the following July 1 and 3
52		-	must notify the assessor of each county of the amount to be in effect for that taxable year. 4
53		-	…." 5
54		-	SECTION 2. This act is effective for taxable years beginning on or after July 1, 6
55		-	2026. 7
	47	+	percentage of any cost-of-living adjustment made to the benefits under Titles II and XVI of the 35
	48	+	Social Security Act for the preceding calendar year, rounded to the nearest one hundred dollars 36
	49	+	H.B. 59
	50	+	Feb 4, 2025
	51	+	HOUSE PRINCIPAL CLERK General Assembly Of North Carolina Session 2025
	52	+	Page 2 DRH40047-BAf-3
	53	+	($100.00). On or before July 1 of each year, the Department of Revenue must determine the 1
	54	+	income eligibility amount to be in effect for the taxable year beginning the following July 1 and 2
	55	+	must notify the assessor of each county of the amount to be in effect for that taxable year. 3
	56	+	…." 4
	57	+	SECTION 2. This act is effective for taxable years beginning on or after July 1, 5
	58	+	2026. 6