NC H59

Married couples applying for the elderly or disabled property tax homestead exclusion may qualify if their combined income does not exceed 115% of the standard income eligibility limit

Eliminates the deferred tax liability under the property tax homestead circuit breaker, converting previously deferred taxes into outright tax relief rather than postponed obligations

Creates an alternate qualification path for the circuit breaker program based on 70% of area median income (AMI) for a two-person household, requiring 10 years of ownership/occupancy with taxes capped at 6% of income

Requires triennial application for circuit breaker benefits instead of annual filing, with approval covering the current tax year plus two subsequent years

Effective July 1, 2026, with taxing units required to release any unpaid deferred taxes and extinguish corresponding liens on qualifying properties