NC S343

Creates property tax relief for North Carolina homeowners who have owned and occupied their permanent residence for at least 15 consecutive years as of January 1 of the tax year

Caps annual property tax increases at 2% over the prior year's tax amount, with any excess taxes deferred as a lien on the property

Deferred taxes for the preceding three fiscal years become due upon disqualifying events including selling the residence, death of owner (with exceptions for transfers to spouse or co-owner), or ceasing to use property as permanent residence

Requires the NC Department of Revenue to post educational information online, create community workshop presentations with county assessors, and submit annual reports to the Revenue Laws Study Committee beginning March 1, 2028

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