[Durham INC] Fw: Homestead Property Tax Relief Application Deadline Approaching

Tue May 17 16:43:45 EDT 2016

________________________________
From: Durham County Government <lists at dconc.gov>
Sent: Tuesday, May 17, 2016 2:55 PM
To: pats1717 at hotmail.com
Subject: Homestead Property Tax Relief Application Deadline Approaching

Durham County Government        Press Release

Homestead Property Tax Relief Application Deadline Approaching

[Formal Shield]
Durham, NC - May 17, 2016 - Durham residents seeking help with paying their property tax may find assistance through any of North Carolina's three tax relief programs. Durham County Tax Administrator Kimberly Simpson reminds all homeowners that June 1, 2016, is the deadline to apply for the major property tax relief programs. "For those who qualify, these programs offer significant reductions in the taxable value of their homes."

The tax relief programs are offered for the elderly and for those who are totally and permanently disabled. There is an additional program specifically for veterans who have suffered a service-connected, total and permanent disability.

"Our office wants to encourage all property owners who believe they may qualify to submit their applications as soon as possible, so that they can take advantage of the property tax benefits for the upcoming 2016 billing period."

The details of the tax relief programs include:

  *   Elderly/Disabled Homestead Exemption

This program is for North Carolina residents who meet the income qualification described below and, on January 1, 2016, were either 65 years of age or older, or totally and permanently disabled, regardless of age. Property owners filing as disabled must provide a certification of total and permanent disability from a physician licensed to practice in North Carolina. There is a one-time application required to enroll in this program.
In addition to the age/disability requirement, the 2015 income of the homeowner (including both incomes if married and living together) must not exceed $29,500.
Income is defined by statute as all moneys received from every source other than gifts or inheritances from certain family members. Income includes money received from social security, disability, retirement, interest, dividends, rental or business income, wages, etc.
For those who qualify, this program excludes from taxes the greater of $25,000 or 50% of the assessed value of the owner's permanent residence, including up to one acre of land. Manufactured homes may qualify regardless of whether the structure is listed as personal property or real property.

  *   Circuit Breaker -- Elderly/Disabled Deferment Program

This program limits the amount of annual property taxes the owner pays on their permanent residence. The tax bill is limited to a fixed percentage of income, and any taxes owed above that limit will be deferred until a disqualifying event. This program requires a new application to be filed every year.
Examples of a "disqualifying event include the death of the property owner; the transfer of the property; or the owner moving to a different permanent residence. Deferred taxes that become due must be repaid with interest, but only the most current three years of deferred taxes must be paid at the time of a disqualifying event.
The Circuit Breaker program has the same age/disability requirements as the Homestead Exemption, and income is defined the same way. For this program, there is an additional requirement-the owner must have both owned the property, and lived in it as their permanent residence, since 2010 or earlier.
Qualifying owners whose 2015 income was $29,500 or less will pay no more than 4% of their income in property taxes. If the 2014 income was more than $29,500 but not more than $44,250, the owner will pay no more than 5% of their income in property taxes.

  *   Disabled Veteran Exclusion

This program excludes up to the first $45,000 of the appraised value of the permanent residence of a disabled veteran. A disabled veteran is defined as a veteran whose character of service at separation was honorable or under honorable conditions, and who has a total and permanent service-connected disability or who received benefits for specially adapted housing under 38 U.S.C. 2101. There is no age or income limitation for this program, but part of the application must be completed by the Department of Veterans Affairs.
This benefit is also available to a surviving spouse (who has not remarried) of either (1) a disabled veteran as defined above, (2) a veteran who died as a result of a service-connected condition whose character of service at separation was honorable or under honorable conditions, or (3) a service member who died from a service-connected condition in the line of duty.

Residents that believe they may qualify for aforementioned programs may obtain an online application or in person. The online application is found under the Property Tax Relief Programs tab on the Durham County Tax Administration webpage at http://www.dconc.gov/government/departments-f-z/tax-administration/property-tax-relief-programs. Applications are available in the Durham County Tax Administration Office, located on the first floor of 200 E. Main Street, Durham.

"Residents should feel free to contact our office, at 919-560-0300, to speak with a representative for additional help with the application for property tax relief. Our staff is equipped to explain details about the potential tax savings for property owners who qualify for these programs. We can even schedule an appointment for residents that wish to come in."

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Durham County Government, 200 East Main Street, Durham, NC 27701

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