North Carolina 2025-2026 Regular Session

North Carolina House Bill H950 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 950
	3	+	H D
	4	+	HOUSE BILL DRH40500-NIf-110
	5	+
5	6
6	7
7	8		Short Title: Elderly/Disabled Prop. Tax Mods. (Public)
8	9		Sponsors: Representative Wheatley.
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		-	April 14, 2025
12		-	H950 -v-1
	10	+	Referred to:
	11	+
	12	+	DRH40500 -NIf-110
13	13		A BILL TO BE ENTITLED 1
14	14		AN ACT TO MODIFY THE ELDERLY OR DISABLED PROPERTY TAX HOMESTEAD 2
15	15		EXCLUSION TO INCREASE THE AGE REQUIREMENT, TO REMOVE THE INCOME 3
16	16		ELIGIBILITY LIMIT, AND TO EXCLUDE FROM TAXATION ONE HUNDRED 4
17	17		PERCENT OF THE APPRAISED VALUE OF THE RESIDENCE, AND TO MAKE A 5
18	18		CONFORMING CHANGE NECESSARY TO IMPLEMENT THOSE CHANGES . 6
19	19		The General Assembly of North Carolina enacts: 7
20	20		SECTION 1. G.S. 105-277.1 reads as rewritten: 8
21	21		"§ 105-277.1. Elderly or disabled property tax homestead exclusion. 9
22	22		(a) Exclusion. – A permanent residence owned and occupied by a qualifying owner is 10
23	23		designated a special class of property under Article V, Sec. 2(2) of the North Carolina 11
24	24		Constitution and is taxable in accordance with this section. The amount of the appraised value of 12
25	25		the residence equal to the exclusion amount is excluded from taxation. The exclusion amount is 13
26	26		the greater of twenty five thousand dollars ($25,000) or fifty one hundred percent (50%) (100%) 14
27	27		of the appraised value of the residence. An owner who receives an exclusion under this section 15
28	28		may not receive other property tax relief. 16
29	29		A qualifying owner is an owner who meets all of the following requirements as of January 1 17
30	30		preceding the taxable year for which the benefit is claimed: 18
31	31		(1) Is at least 65 70 years of age or totally and permanently disabled. 19
32	32		(2) Has an income for the preceding calendar year of not more than the income 20
33	33		eligibility limit. 21
34	34		(3) Is a North Carolina resident. 22
35	35		… 23
36	36		(a2) Income Eligibility Limit. – For the taxable year beginning on July 1, 2008, the income 24
37	37		eligibility limit is twenty-five thousand dollars ($25,000). For taxable years beginning on or after 25
38	38		July 1, 2009, the income eligibility limit is the amount for the preceding year, adjusted by the 26
39	39		same percentage of this amount as the percentage of any cost-of-living adjustment made to the 27
40	40		benefits under Titles II and XVI of the Social Security Act for the preceding calendar year, 28
41	41		rounded to the nearest one hundred dollars ($100.00). On or before July 1 of each year, the 29
42	42		Department of Revenue must determine the income eligibility amount to be in effect for the 30
43	43		taxable year beginning the following July 1 and must notify the assessor of each county of the 31
44	44		amount to be in effect for that taxable year. 32
45	45		… 33
46	46		(c) Application. – An application for the exclusion provided by this section should be 34
47		-	filed during the regular listing period, but may be filed and must be accepted at any time up to 35 General Assembly Of North Carolina Session 2025
48		-	Page 2 House Bill 950-First Edition
49		-	and through June 1 preceding the tax year for which the exclusion is claimed. When property is 1
50		-	owned by two or more persons other than husband and wife and one or more of them qualifies 2
51		-	for this exclusion, each owner must apply separately for his or her proportionate share of the 3
52		-	exclusion. 4
53		-	(1) Elderly Applicants. – Persons 65 70 years of age or older may apply for this 5
54		-	exclusion by entering the appropriate information on a form made available 6
55		-	by the assessor under G.S. 105-282.1. 7
56		-	…." 8
57		-	SECTION 2. G.S. 105-277.1B reads as rewritten: 9
58		-	"§ 105-277.1B. Property tax homestead circuit breaker. 10
59		-	… 11
60		-	(c) Income Eligibility Limit. – The income eligibility limit provided in G.S. 12
61		-	105-277.1(a2) applies to this section.For the taxable year beginning on July 1, 2008, the income 13
62		-	eligibility limit is twenty-five thousand dollars ($25,000). For taxable years beginning on or after 14
63		-	July 1, 2009, the income eligibility limit is the amount for the preceding year, adjusted by the 15
64		-	same percentage of this amount as the percentage of any cost-of-living adjustment made to the 16
65		-	benefits under Titles II and XVI of the Social Security Act for the preceding calendar year, 17
66		-	rounded to the nearest one hundred dollars ($100.00). On or before July 1 of each year, the 18
67		-	Department of Revenue must determine the income eligibility amount to be in effect for the 19
68		-	taxable year beginning the following July 1 and must notify the assessor of each county of the 20
69		-	amount to be in effect for that taxable year. 21
70		-	…." 22
71		-	SECTION 3. This act is effective for taxes imposed for taxable years beginning on 23
72		-	or after July 1, 2026. 24
	47	+	filed during the regular listing period, but may be filed and must be accepted at any time up to 35
	48	+	and through June 1 preceding the tax year for which the exclusion is claimed. When property is 36
	49	+	H.B. 950
	50	+	Apr 10, 2025
	51	+	HOUSE PRINCIPAL CLERK General Assembly Of North Carolina Session 2025
	52	+	Page 2 DRH40500-NIf-110
	53	+	owned by two or more persons other than husband and wife and one or more of them qualifies 1
	54	+	for this exclusion, each owner must apply separately for his or her proportionate share of the 2
	55	+	exclusion. 3
	56	+	(1) Elderly Applicants. – Persons 65 70 years of age or older may apply for this 4
	57	+	exclusion by entering the appropriate information on a form made available 5
	58	+	by the assessor under G.S. 105-282.1. 6
	59	+	…." 7
	60	+	SECTION 2. G.S. 105-277.1B reads as rewritten: 8
	61	+	"§ 105-277.1B. Property tax homestead circuit breaker. 9
	62	+	… 10
	63	+	(c) Income Eligibility Limit. – The income eligibility limit provided in G.S. 11
	64	+	105-277.1(a2) applies to this section.For the taxable year beginning on July 1, 2008, the income 12
	65	+	eligibility limit is twenty-five thousand dollars ($25,000). For taxable years beginning on or after 13
	66	+	July 1, 2009, the income eligibility limit is the amount for the preceding year, adjusted by the 14
	67	+	same percentage of this amount as the percentage of any cost-of-living adjustment made to the 15
	68	+	benefits under Titles II and XVI of the Social Security Act for the preceding calendar year, 16
	69	+	rounded to the nearest one hundred dollars ($100.00). On or before July 1 of each year, the 17
	70	+	Department of Revenue must determine the income eligibility amount to be in effect for the 18
	71	+	taxable year beginning the following July 1 and must notify the assessor of each county of the 19
	72	+	amount to be in effect for that taxable year. 20
	73	+	…." 21
	74	+	SECTION 3. This act is effective for taxes imposed for taxable years beginning on 22
	75	+	or after July 1, 2026. 23