Yes, we offer the Property Tax Relief program for the elderly and disabled. Additionally, in 2009 North Carolina began offering a tax deferment program known as ’Circuit Breaker’. Under the Circuit Breaker program, according to N.C.G.S 105-277.1B, taxes for each year are limited to a percentage of the qualifying owner’s income. A qualifying owner must either be at least 65 years of age or be totally and permanently disabled. 1. For an owner whose income amount for the previous year does not exceed the income eligibility limit for the current year, which for the 2020 tax year is $31,000 . 2. The owner’s taxes will be limited to four percent (4%) of the owner’s income. 3. For an owner whose income exceeds the income eligibility limit ($31,000), but does not exceed 150% of the income eligibility limit, which for the 2020 tax year is $46,500. 4. The owner’s taxes will be limited to five percent (5%) of the owner’s income. Application for this program must be submitted each year. |