NC H950

Raises the age requirement for the elderly property tax homestead exclusion from 65 to 70 years old (disabled persons remain eligible regardless of age)

Increases the property tax exclusion from 50% to 100% of the appraised value of the residence, providing a complete exemption from property taxes for qualifying homeowners

Eliminates the income eligibility limit for the elderly/disabled homestead exclusion, which was previously set at $25,000 (adjusted annually for cost-of-living)

Retains the income eligibility limit for the separate property tax homestead circuit breaker program, with annual adjustments based on Social Security cost-of-living changes

Effective for taxable years beginning on or after July 1, 2026