Modifies the elderly or disabled property tax homestead exclusion under GS 105-277.1 as follows. Creates a joint income (i.e., the combined income of both spouses who are married and residing together, irrespective of whether the property is in both names) eligibility limit of 115% of the $25,000 income eligibility limit for an individual. Makes conforming changes. Makes the joint income eligibility limit applicable to GS 105-277.1B (property tax homestead circuit breaker). Allows in instances when a permanent residence is jointly owned by two or more persons who are not married for each owner to be entitled to the property tax relief provided by GS 105-277.1, provided that each owner applies separately for the relief (currently, no property tax homestead circuit breaker is allowed unless all owners qualify and elect to defer taxes). Exempts a qualifying owner from paying the portion of the principal amount of tax imposed for the current tax year on his or her permanent residence and exceeds the percentage of the qualifying owner's income as described (currently allows deferral of the described tax). Removes provisions pertaining to deferred taxes, disqualifying events, gaps in deferral, creditor limitations, and construction of GS 105-277.1.

Repeals GS 105-277.1F(a)(2) (applying the uniform provisions for payment of deferred taxes to GS 105-277.1B) and GS 105-365.1(a)(3) (setting forth the delinquent date for a deferred tax under GS 105-277.1B that lost its eligibility for deferral due to the death of the owner the first day of the ninth month following the date of death.)

Makes conforming changes to GS 153A-148.1 (preventing disclosure of county tax records as described) and GS 160A-208.1 (preventing disclosure of local government tax records as described).

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