Transfer Of TitleTaxesMEDIUM
North Carolina's homestead exclusion for seniors provides:
Correct Answer
B) Exclusion of the first $25,000 or 50% of value from taxation
Qualifying seniors (65+) and disabled persons may exclude the first $25,000 or 50% of property value (whichever is greater) from taxation.
Answer Options
A
Full tax exemptionB
Exclusion of the first $25,000 or 50% of value from taxationC
$10,000 exemptionD
Tax deferral onlyVideo Explanation3 min
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Related Topics & Key Terms
Related Topics:
property-tax-assessmentsenior-housing-optionsreal-estate-taxation-basics
Key Terms:
homestead exclusionN.C.G.S. § 105-277.1senior tax reliefproperty tax exclusiondisabled homeowner
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