NC S135

Increases the income eligibility limit for the elderly or disabled property tax homestead exclusion from $25,000 to $48,000, effective July 1, 2025

Future annual adjustments to the income limit will be tied to Social Security cost-of-living adjustments, rounded to the nearest $100

Department of Revenue must determine and notify county assessors of the income eligibility amount by July 1 of each year

Applies to taxes imposed for taxable years beginning on or after July 1, 2025