Bill Summaries: S92 (2023-2024 Session)

Tracking:
  • Bill S 92 (2023-2024)
    Summary date: Feb 9 2023 - View summary

    Amends who qualifies for the property tax homestead circuit breaker under GS 105-277.1B, as follows. No longer requires the owner to be at least 65 years old or totally or permanently disabled; makes conforming changes. Allows a subsequent owner to count the previous owner's ownership and occupancy in order to meet the requirements for owning the property as a permanent residence for at least five consecutive years and occupying the property as a permanent residence for at least five years, if the subsequent owner: (1) is the previous owner's surviving spouse and has not remarried or (2) inherits the property upon the previous owner's death and continues to use the property as a permanent residence. Effective for taxable years beginning on or after July 1, 2023.
    Development, Land Use and Housing, Property and Housing, Government, Tax
    GS 105

© 2022 School of Government The University of North Carolina at Chapel Hill

This work is copyrighted and subject to "fair use" as permitted by federal copyright law. No portion of this publication may be reproduced or transmitted in any form or by any means without the express written permission of the publisher. Distribution by third parties is prohibited. Prohibited distribution includes, but is not limited to, posting, e-mailing, faxing, archiving in a public database, installing on intranets or servers, and redistributing via a computer network or in printed form. Unauthorized use or reproduction may result in legal action against the unauthorized user.