Property Tax Relief: Apply Now for a Break on Your Bill
Senior citizens on a fixed income. A disabled resident unable to work. A veteran living in a home adapted for their needs. These are examples of Mecklenburg County residents who might qualify for a break on their property taxes.
North Carolina and Mecklenburg County offer several relief programs for residents and businesses, and NOW is the time to apply so the relief will apply to a resident’s 2024 tax bill.
Some programs have income requirements that must be met. Income means all dollars received from every source other than gifts or inheritances received from a spouse, ancestor, or descendent.
Most applications must be submitted to the Mecklenburg County Assessor’s Office by June 1. Tax rates will be determined by City, County, and Town elected boards in the spring of 2024, with property tax bills calculated and mailed in July.
- Elderly or Disabled Homestead Exemption
Qualifying residents may receive an exclusion of either $25,000 or 50% of the taxable value of the residence, whichever is greater.
- Elderly or Disabled Property Tax Deferral (Circuit Breaker)
The Circuit Breaker program allows qualifying residents the option to defer a portion of the property taxes owed on their permanent residence. Residents with income of $36,700 or less can defer the portion of property taxes that exceeds 4% of the owner’s income. Residents with Income of $36,700 – $55,050 can defer the portion of the property taxes that exceeds 5% of the owner’s income.
- Disabled Veteran Homestead Exclusion
North Carolina excludes from property taxes the first $45,000 of assessed value for specific real property occupied as a permanent residence by a qualifying owner. Co-owners who are not spouses and who are individually eligible for the benefit will receive the total exemption of $90,000. There is no age or income requirement for this program.
- Present-Use Value Assessment: Commercial producers of agricultural, horticultural, or forest products are eligible to apply for tax assessment on the basis of present use, rather than full market value.
- Builder Property Tax Exemptions: Exemptions are available for qualifying residential and commercial builders.
- Historic Properties: Properties designated as historic properties may be eligible for property tax deferrals. Application filing period is Jan. 1 - 31.
More Information: To learn more about the income, age, disability, and other requirements for the exemption programs, visit CAO.MeckNC.gov/Tax-Relief-Programs. Residents can also call the Assessor’s Office at 980-314-4226.