Allows persons with an income for the preceding calendar year of not more than 80% of the applicable area median income (defined) for a household of two persons in the county in which the property is so long as the owner has owned and occupied the property as a permanent residence for the previous 15 consecutive years as an additional income ground for eligibility for the elderly or disabled property tax homestead exemption under GS 105-277.1. Increases the income eligibility limit from $25,000 to $48,000 starting in the taxable year beginning July 1, 2026. Makes conforming changes to account for new income grounds and year of income eligibility increase. Makes technical changes. Effective for taxable years beginning on or after July 1, 2026.