Secure Home, Secure Future Act.

SB 343, the "Secure Home, Secure Future Act," creates a new property tax relief program for qualifying North Carolina homeowners. It allows owners who have lived in and owned their primary residence for 15 consecutive years to cap annual property tax increases at 2% of the prior year’s tax amount (or the prior year’s tax, whichever is higher), deferring the difference as a lien on the property. To qualify, owners must be North Carolina residents, occupy the home as their permanent residence, and notify tax assessors of property improvements. The relief ends if the owner sells the home (unless transferred to a spouse/co-owner who continues living there), dies (if passed to a spouse/co-owner), or stops using it as a primary residence.