Wake County Revenue Department/ Property Tax Exemption

Location

Telephone Numbers and Contact Information

Program Details

NC allows a yearly real estate property tax exemption of half the value of the residence or $25,000, whichever is greater, for households with a person 65 years or older, or totally and permanently disabled, with a household income of $29,500 or less (in 2016). Income includes ALL sources including Social Security, pensions, annuities, nontaxable interest, etc. Applications must be filed by June 1 in order to be reflected on the current year's tax bill which is sent out in the summer. Applications received after June 1 must be reviewed by the tax board, but may still be approved in time to affect what is owed for that year. For unmarried joint property owners, each owner must apply separately and benefit limitations may apply based on the percent of ownership. In the case of properties of more than one acre, the exemption is applied to the house and one acre only. When calling the Wake County Revenue Dept. main office, callers should immediately press "0" to be connected to a customer service representative who can send them an application. There is also a property tax deferral or "circuit breaker" program available for households with a person 65 years or older, or totally and permanently disabled, with a household income less than 150% of the eligibility limit for the exemption program (less than $43,500). Such individuals may be able to defer a portion of their property taxes, though interest will accrue on the deferred amount, and a lien will be placed on the property. The amount of taxes that can be deferred depends on the income of the homeowner. The deferred taxes and interest will be payable when the homeowner dies, sells, or moves from the property. For unmarried joint property owners, each owner must apply and qualify separately. In addition, all owners must have owned and occupied the residence for the previous five years. Notes on filling out the application: Item 6: Description of property: just the address of the property is fine Item 7: Percentage of ownership: 100% if husband and wife Item 10: If applicant does not have to file income taxes, only needs to enter total income in this box and does not have to send any documentation. Item 11: If applicant does have to file income taxes, needs to fill out the chart below, and submit a copy of the first page of their federal income tax form. ***IF APPLICANT FILES JOINTLY WITH A SPOUSE, enter both incomes under "Claimant"!*** Only use the spouse column if file separately. 11-1: "All Income" (equal to "Total Income" line on tax form [line 22 on Form 1040, or line 15 on Form 1040A]-- other, non-taxable income is listed below and will be added to the total at the bottom of the chart)

This information is provided as is with no guarantee as to the accuracy of the information. Information is considered to be accurate as of the date of the last update, printed above. Resources for Seniors may not be held liable for misuse of this information.