These programs can save you money on your Wake County tax bill. Are you missing out?

North Carolina has three programs that help people save money on their property tax bills. But in Wake County just over 6,000 households are taking advantage of them.

The programs are limited to people over the age of 65, people who are disabled or veterans, and the deadline to apply is June 1.

Leslie Fox spoke to the Wake County Board of Commissioners during a recent public hearing on the proposed $1.86 billion county budget, which includes a property tax increase. While there are “thoughtful things” in the budget she likes, she said she’s worried about “significant hike” in her tax bill.

She applied for one of the property tax relief programs, she said, adding she’s legally disabled. But she didn’t qualify.

“I sold my house because of the property tax burden,” Fox said.

“Luckily for me, I did have somewhere to go. And I’m still living here in Raleigh,” she said. “But I beg of you to consider the fact that a lot of us are struggling. We take two steps forward. And we go back three.

The three programs can reduce the entire tax bill, not just the county portion. These programs are available in each of North Carolina’s counties.

Homestead Exclusion

The program is sometimes called the elderly or disabled homestead exclusion. It excludes from taxation the first $25,000 or up to 50% of a home value, whichever is greater.

This program applies to homeowners who are 65 or older or 100% disabled and who made less than $33,800 gross income in 2022. That includes the homeowner’s spouse income.

There are 3,977 households that have qualified for this program. This program does not require people to reapply each year.

Disabled Veteran Exclusion

Veterans who live in Wake County who were honorably discharged may be eligible for a reduction in property taxes. The program also applies to a deceased veteran’s unmarried surviving spouse.

“This program excludes up to the first $45,000 of the appraised value of the permanent residence of a veteran discharged under honorable conditions who has a total and permanent disability that is service-connected or who receives benefits for specially adapted housing under 38 U.S.C. 2101,” according to Wake County’s website.

There are 1,995 households that qualify for this program. This program does not require people to reapply each year.

Circuit Breaker Tax Deferment

Applicants must be 65 year or older or “totally and permanently disabled.” Gross income for both an applicant and spouse can’t exceed $50,700 in 2022.

This program limits property taxes to a percentage of the owner’s income. Taxes above the limit are deferred.

“The last three years of deferred taxes become payable with interest if a disqualifying event occurs,” according to Wake County’s website. “Disqualifying events include death of the owner or transfer of the property where the owner’s share is not passed to another qualifying owner, and failure to use the property as the owner’s permanent residence.”

There are 111 households qualified for this program. This program requires people to apply each year.

How to apply?

The deadline to apply for the three programs is June 1.

Applications can be submitted online and you will need a valid email address to submit online.

Applications can also be mailed to P.O Box 2331, Raleigh, NC 27602, or hand-delivered to 301 S. McDowell St., Suite 3800, Raleigh.

You can request an application be mailed to your home by calling 919-856-5400.

You can find more information online at wake.gov/tax and clicking “tax relief program.” And you can also email taxhelp@wake.gov or call 919-856-5400.

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