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Tax Relief Program for Elderly, Disabled, and Veterans

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Uploaded on Jun 29, 2011

Buncombe County Tax Department provides tax relief programs for the elderly, disabled and veterans -- Elderly and Disabled Exclusion, Circuit Breaker Deferment and Disabled Veteran Exclusion. The Elderly and Disabled Exclusion excludes from property taxes the greater of twenty-five thousand dollars ($25,000) or fifty percent (50%) of the appraised value of a permanent residence owned and occupied by a qualifying owner. The Circuit Breaker program defers a portion of the property taxes on the appraised value of a permanent residence owned and occupied by a North Carolina resident who has owned and occupied the property at least 5 years, is at least 65 years of age or is totally & permanently disabled, and whose income does not exceed $27,100. And the Veterans program allows veterans to receive property tax exclusion for those who have a permanent and total service connected disability from the US Department of Veterans Affairs. The law also provides that the widow of a qualifying veteran who has never remarried is eligible for the tax exclusion.

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