Elderly/Disabled Property Tax Modifications.

HB 950 would modify North Carolina's property tax relief for elderly and disabled homeowners by raising the age requirement from 65 to 70, eliminating income eligibility requirements, and expanding the tax exclusion to cover 100% of a home's appraised value. Currently, applicants must be 65 or older (or disabled), meet income limits, and occupy the home as a primary residence; the bill removes income caps and requires applicants to be 70 or older. This means qualifying homeowners would pay no property tax on their primary residence under the new rules, as the entire home value would be excluded. The changes would take effect for tax years beginning July 1, 2026.