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.
INCREASE INCOME LIMIT FOR HOMESTEAD EXCLUSION.
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| View NCGA Bill Details | 2011-2012 Session |
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:
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Thu, 3 Mar 2011 Senate: Filed
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Mon, 7 Mar 2011 Senate: Passed 1st Reading
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Mon, 7 Mar 2011 Senate: Ref To Com On Finance
S 216
Bill Summaries:
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Bill S 216 (2011-2012)Summary date: Mar 3 2011 - View Summary
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