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Old 11-15-2013, 04:13 PM
 
134 posts, read 124,678 times
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Default real estate property tax exemptions in NC for age 65 and over?

someone was telling me that if a person over 65 bought a house here in NC that their property (city and state) taxes are 1/2 of what they normally would be. Is this true? For every county of NC?

Thanks to any who care to answer this!
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Old 11-15-2013, 04:54 PM
 
Location: Durham, NC
3,238 posts, read 5,829,957 times
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This link describes exemptions for those over 65 or those disabled with income restrictions. Not certain about other exemptions.

Tax Relief Programs
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Old 11-15-2013, 07:12 PM
 
Location: Sneads Ferry, NC
6,373 posts, read 5,715,826 times
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Quote:
Originally Posted by ladyshasta2 View Post
someone was telling me that if a person over 65 bought a house here in NC that their property (city and state) taxes are 1/2 of what they normally would be. Is this true? For every county of NC?
Not quite true as there are income limits, and the maximum assesment reduction is $25K. The household income must be less than $28,600. Here's the text from the Onslow County web site:
Elderly or Disabled Exclusion
Age 65 or older or Total and Permanent Disability
Income must be $28,600 or less
Must be a NC resident
One time application required
Deadline to submit application is June 1st
Assessment reduction of $25,000 or 50% of the appraised value, whichever is greater

Since Onslow sound similar to Wake, I assume it is statewide. Here's the rest of the reference: Tax Office - Property Tax Relief Programs
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Old 11-17-2013, 11:03 AM
 
134 posts, read 124,678 times
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Thank you! I did not know where to look online before! Thanks for the link(s) I will look at them!
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Old 11-17-2013, 02:43 PM
 
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It is statewide. The replies are correct. You have to be poor (relatively).
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Old 11-19-2013, 12:30 PM
 
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Any discounts for veterans?
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Old 11-19-2013, 06:34 PM
 
Location: Sneads Ferry, NC
6,373 posts, read 5,715,826 times
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Quote:
Originally Posted by suealbre View Post
Any discounts for veterans?
Only if disabled, but no definition of that was provided. You could research it if you qualify.
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Old 11-24-2013, 08:17 PM
 
16,311 posts, read 13,134,923 times
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Quote:
Originally Posted by ladyshasta2 View Post
someone was telling me that if a person over 65 bought a house here in NC that their property (city and state) taxes are 1/2 of what they normally would be. Is this true? For every county of NC?

Thanks to any who care to answer this!
Basically a big fat NO!
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Old 11-24-2013, 08:18 PM
 
16,311 posts, read 13,134,923 times
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Quote:
Originally Posted by suealbre View Post
Any discounts for veterans?
Another big fat NO! or I would be claiming both.

A vet must be permanently and totally disabled to qualify.

Last edited by Asheville Native; 11-24-2013 at 08:28 PM..
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Old 11-25-2013, 06:49 AM
 
1,028 posts, read 715,604 times
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Quote:
Originally Posted by GCharlotte View Post
It is statewide. The replies are correct. You have to be poor (relatively).
The idea is that it is cheaper to give them a tax break to allow them to stay in their home rather than have to put them in public housing or a rest home, both of which costs the tax payers a lot more.

Problem is there are a lot of rural counties and towns with primarily older folks that meet the criteria. You may have 30% of the population qualify in one county, but in a more urban county only 5% qualify. So the urban county gets paid 95% of their tax base and the rural one only gets paid 70%.
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