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NC S230
Bill
AI Summary
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Increases the income eligibility limit for the elderly or disabled property tax homestead exclusion from $25,000 to $48,000
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Resets the baseline year for calculating annual cost-of-living adjustments from July 1, 2008 to July 1, 2025
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Future annual adjustments will continue to be tied to Social Security cost-of-living increases under Titles II and XVI, rounded to the nearest $100
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Effective for taxable years beginning on or after July 1, 2025
Legislative Description
Expand Homestead Exclusion Inc. Elig. Limit
Public
Last Action
Ref To Com On Rules and Operations of the Senate
3/6/2025
Committee Referrals
Rules and Operations of the Senate3/6/2025
Full Bill Text
No bill text available