INCREASE INCOME LIMIT FOR HOMESTEAD EXCLUSION.

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View NCGA Bill Details2011-2012 Session
Senate Bill 216 (Public) Filed Thursday, March 3, 2011
TO INCREASE THE INCOME ELIGIBILITY LIMIT FOR THE HOMESTEAD EXCLUSION TO THIRTY-FIVE THOUSAND DOLLARS.
Intro. by Allran

Status: Ref To Com On Finance (Senate Action) (Mar 7 2011)

Bill History:

S 216

Bill Summaries:

  • Summary date: Mar 3 2011 - View Summary

    Amends GS 105-277.1(a2) (concerning the property tax homestead exclusion for the elderly and disabled) to increase the income eligibility limit for the homestead exclusion from $25,000 to $35,000, for the taxable year beginning on July 1, 2011. For taxable years beginning on or after July 1, 2012 (currently, July 1, 2009), the income eligibility limit is the amount for the previous year, adjusted as indicated.
    Effective for taxes imposed for taxable years beginning on or after July 1, 2011.