Time almost up for elderly, disabled citizens to seek tax relief Print

Qualified elderly or disabled county residents have until 5 p.m., Tuesday, June 1 to apply for tax relief through exclusions authorized by the N.C. General Assembly.

 

Tax relief options include the Elderly and Disabled Exclusion, or Homestead Exclusion; a Disabled Veterans exclusion added in 2009; and a tax deferment called the Circuit Breaker Program, also added in 2009.

 

The Homestead Exclusion is available for any elderly or disabled homeowner. The qualifying income limit for 2010 has been increased to $27,100, from $25,600 in 2009. Applicants must be at least 65 years of age, as of January 1 of the current year, or totally and permanently disabled. The exclusion applies only to a homeowner’s primary residence and involves a reduction of $25,000, or 50 percent, of the value of the home and one acre of land, whichever is greater.

 

The Disabled Veterans Program provides an exemption of $45,000 and is available to any disabled veteran as long as the disability is service-connected, a permanent and total disability, and he or she was honorably discharged.

 

The Circuit Breaker Program allows taxes billed each year to be limited to a percentage of the qualifying owner’s income. The program is aimed at elderly and disabled persons, just like the Homestead Exemption. However, it is a deferment rather than an exclusion of taxes.

 

Participants in the Circuit Breaker Program may earn 150% more than the general 2010 Income Eligibility Limit. The qualifying amount is $27,100. The 150 percent increase results in an income eligibility of $40,650.

If an applicant earns $27,100 or less, taxes would be limited to 4 percent of their income.  If an applicant earns more that $27,100 but less than or equal to $40,650, taxes would be limited to 5 percent of their income.

 

Applications, forms, complete eligibility guidelines are available by clicking on Online Services and going to the Tax Forms section, or by contacting the Personal Property Division of the Assessor’s Office at 452-6640.

 

For more information, contact:
David Teague,
Public Information Officer
Haywood County
828-452-7305; 828-400-9691 or
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