CARTERET COUNTY
ASSESSOR'S OFFICE
N O R T H C A R O L I N A

PROPERTY TAX RELIEF FOR ELDERLY
AND DISABLED PERSONS

NORTH CAROLINA GENERAL STATUTE 105-277.1

North Carolina excludes from property taxes the greater of twenty thousand dollars ($20,000) or fifty percent (50%) of the appraised value of a permanent residence owned and occupied by a qualifying owner. A qualifying owner is an owner who meets all of the following requirements as of January 1 preceding the taxable year for which the benefit is claimed:

• Is at least 65 years of age or totally and permanently disabled.
• Has an income for the preceding calendar year of not more than eighteen thousand dollars ($20,500).
• Is a North Carolina resident.

Income is defined as the adjusted gross income as defined in section 62 of the Internal Revenue Code, plus all other moneys received from every source other than gifts or inheritances received from a spouse, lineal ancestor, or lineal descendant. For married applicants residing with their spouses, the income of both spouses must be included, whether or not the property is in both names.

If you receive this exclusion in 2007, you do not need to apply again unless you have changed your permanent residence. If you received the exclusion in 2007, and your income in 2007 is above nineteen thousand seven hundred dollars ($20,500), you must notify the Assessor. If you received the exclusion in 2007 because you were totally and permanently disabled and you are no longer totally and permanently disabled, you must notify the Assessor. If the person receiving the exclusion in 2006 has died, the person required by law to list the property must notify the Assessor. Failure to make any of the notices required by this paragraph before June 1st will result in penalties and interest. If you did not receive the exclusion in 2006, but are now eligible, you may obtain a copy of an application from the Assessor. It must be filed by June 1st.

Definitions:	When used in this section, the following definitions shall apply:
Code	The Internal Revenue Code, as defined in G.S. 105-228.90
Income	Adjusted gross income, as defined in section 62 of the Code, plus all other moneys received from every source other than gifts or inheritances received from a spouse, lineal ancestor, or lineal descendant. For married applicants residing with their spouses, the income of both spouses must be included, whether or not the property is in both names.
Owner	A person who holds legal or equitable title, whether individually, as a tenant by the entirety, a joint tenant, or a tenant in common, or as the holder of a life estate or an estate for the life of another. A manufactured home jointly owned by husband and wife is considered property held by the entirety.
Permanent Residence	A person's legal residence. It includes the dwelling site, not to exceed one acre, and related improvements. The dwelling may be a single family residence, a unit in a multi-family residential complex, or a manufactured home.
Totally and Permanently disabled	A person is totally and permanently disabled if the person has a physical or mental impairment that substantially precludes him or her from obtaining gainful employment and appears reasonably certain to continue, without substantial improvement throughout his or her life
Disposable Income	Means adjusted gross income as defined for North Carolina income tax purposes plus all other moneys received from every source other than gifts or inheritances received from a spouse, lineal ancestors, or lineal descendants
Application	Applications for the exclusions provided by this section are to be filed during the regular listing period, but, shall be accepted at any time up to and through June 1st of the calendar year for which they are to be effective.