Options for Expanding Property Tax Relief for Lower Income Homeowners
Community and Economic Development Program of UNC
MAY 17, 2022
Three years of deferred circuit breaker taxes are due and payable if the taxpayer transfers the home to another owner or stops using it as their legal residence (either of which is termed a “disqualifying event”). Assume Tina Tarheel is 67, earned $30,000 in 2021, and has lived in her home for 15 years. 4% of $30,000 is $1,200.
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