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Yahoo
17-04-2025
- Business
- Yahoo
House approves study of state's property tax relief programs
Residents complain that new construction in older neighborhoods like this one in Southeast Raleigh drive up taxes and make homes unaffordable. (Photo: Courtesy of Anthony Pope) A bill directing a study of current property North Carolina tax relief programs for disabled veterans and elderly and disabled homeowners received unanimous support in the House on Wednesday. House Bil 432 directs the Revenue Law Study Committee to study options to enhance such programs and to consider other tax reforms to reduce property tax burdens for low-income elderly and disabled residents and disabled veterans. 'This is a study bill and the reason we need this study bill is because other states have done things to protect their homeowners that I think we can follow,' said Rep. Brian Echevarria (R-Cabarrus), a bill cosponsor. 'We have some states that have 100% property tax exclusions for veterans. They have better exclusions for the elderly and disabled.' Big concerns, Echevarria said, are rising taxes and property tax revaluations, which are making it difficult for residents on fixed incomes to remain in their homes. Cabarrus County has been 'decimated' by property revaluations and tax increases, he said. 'I'm sure that I'm not the only one who has received phone calls from the elderly, from the disabled, those on fixed incomes who simply don't know how they're going to keep up with increasing property taxes,' Echevarria said. Several Democrats spoke in support of HB 432, including Rep. Abe Jones (D-Wake) who said he 100% backs the tax relief study. 'I've been worried about older people in my communities … [who] might eventually lose their homes because the property taxes are going up and up and up and their income is fixed,' Jones said. 'I'm sure there's nobody in here doesn't know anybody like that.' Rep. Carla Cunningham (D-Mecklenburg) noted that several bills have been introduced to provide tax relief for veterans and elderly and disabled North Carolinians. More must be done to keep veterans in the state and to encourage those from the state to return home after separating from the military, she said. 'I do know that we want to move forward to assist the veterans in the State of North Carolina not to leave North Carolina but to come home to North Carolina after they have served and that we should be assisting in any way that we can for them to come back home,' Cunningham said. She noted that in South Carolina, veterans who are totally or permanently disabled from wartime may receive a property tax exemption on their home. Rep. Marcia Morey (D-Durham) said the bill is vastly improved compared to previous versions but reminded colleagues that property taxes pay for essential services such as public schools. 'They [property taxes] are not a regressive tax like a sales tax and I don't want to see a study go into a shift of tax consequences that are more regressive on the poor that they are on the rich,' Morey said. She asked if bill sponsors had sought input from the NC Association of County Commissioners and the NC League of Municipalities and whether the groups support the bill. Echevarria said he hadn't received input from either organization. North Carolina currently offers three property tax relief programs for qualified homeowners that are administered by counties: The Elderly/Disabled Homestead Exemption is for residents 65 years or older or those who are totally and permanently disabled. The program excludes from taxes the greater of $25,000 or 50% of the assessed value of the owner's permanent residence. The Circuit Breaker limits the amount of annual property taxes the owner pays on their permanent residence. Eligibility is limited to homeowners who are 65 and older or who are totally and permanently disabled. The tax bill is limited to a fixed percentage of income, and any taxes owed above that limit is deferred until a 'disqualifying event' such as the owner's death. This program requires a new application to be filed every year. The Disabled Veteran Exclusion program excludes up to the first $45,000 of the appraised value of the permanent residence of a disabled veteran who has a total and permanent service-connected disability or who received benefits for specially adapted housing. There is no age or income limitation for this program.
Yahoo
10-04-2025
- Business
- Yahoo
New nonprofit to look for housing solutions that ‘work for everyone'
New construction like this in Southeast Raleigh is part of a national trend. Almost 5 million new housing units, mostly single-family homes, have been added nationwide since 2020, according to new data. (Photo: Anthony Pope, Men of Southeast Raleigh) Another voice has been added to North Carolina's vocal pool of nonprofits advocating for affordable housing. The North Carolina Housing Table (NCHT) recently launched as a statewide housing coalition with a goal to advance 'housing solutions that work for everyone.' According to a press release, NCHT is a collaborative effort of community leaders, environmental organizations, advocates for seniors, housing professionals, business groups and 'everyday North Carolinians on the left, right and center united around one goal: advancing housing solutions that work for everyone.' NCHT was founded by Denzel Burnside, who serves as the group's executive director. Burnside was recently executive director of WakeUP Wake County, where he was responsible for leading community discussions and policy action on the issues of affordable housing, transit access, climate action and land use planning. 'In North Carolina, I believe everything starts with home,' Burnside said in a news release. 'Freedom and opportunity depend on where people can live, how they access jobs, and whether they can build a stable future.' A present, however, Burnside says that objective is out of reach for a large proportion of North Carolinians. He pointed to a recent report commissioned by the NC Chamber Foundation, NC Home Builders Association and NC REALTORS — '2024 Housing Supply Gap Analysis, State of North Carolina' — which found an expected gap of 764,000 total units (322,000 rental units and 442,000 units for purchase) between 2024-2029. 'Through smart, equitable, proven policies to create more homes of all shapes and sizes, we can open real pathways to homeownership and upward mobility,' Burnside said. 'Our goal is to work diligently at the statewide level to build communities that are accessible, connected, and centered on the needs of North Carolinians.' The NCHT will host a virtual launch event, 'Setting the Table: Why Housing Choice Matters in NC,' at 2:00 pm on April 15 as a live Zoom gathering that will also be streamed on YouTube. The event will include community voices across North Carolina to discuss housing challenges, solutions, and policy focus for 2025. Registration is free and open to the public at
