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NC S92
Bill
AI Summary
- Modifies the Property Tax Homestead Circuit Breaker in North Carolina General Statute 105-277.1B to expand eligibility requirements
- Allows subsequent owners to count previous owner's tenure toward the five-year ownership and occupancy requirement if they are the surviving spouse (who has not remarried) or an heir who continues using the property as a permanent residence
- Removes the requirement that qualifying owners be at least 65 years of age or totally and permanently disabled
- Maintains income eligibility limit at 150% of the income eligibility limit specified in G.S. 105-277.1(a2)
- Effective for taxes imposed for taxable years beginning on or after July 1, 2023
Legislative Description
Expand Circuit Breaker Property Tax Benefit
Property
Last Action
Re-ref to Finance. If fav, re-ref to Rules and Operations of the Senate
2/14/2023
Committee Referrals
Finance2/14/2023
Rules and Operations of the Senate2/13/2023
Full Bill Text
No bill text available