The North Carolina State General Statutes governing property taxation allow for a number of property tax exemptions and deferments. Property exemptions are available for real and personal property used for religious, educational, charitable, scientific, literary, and charitable hospital purposes, and certain real property held for sale by a builder.

The application deadline for property exemptions and deferments in Onslow County is January 31st each year, the last day of the annual tax listing period. The application deadline for Property Tax Relief programs is June 1st each year.

North Carolina offers three Property Tax Relief programs for qualifying taxpayers:

• Elderly or Disabled Exclusion 
• Disabled Veteran Exclusion 
• Homestead Circuit Breaker 

Property tax relief programs apply only to the permanent residence. The permanent residence includes the dwelling, the dwelling site (not to exceed one acre), and related improvements.

The basic qualification criteria and information for each program are listed below:

Elderly or Disabled Exclusion Program:

• Age 65 or older or total and permanent disability
• Income must be $31,000 or less
• Must be a North Carolina resident
• One time application required.
• Deadline to submit application is June 1.
• Assessment reduction of $25,000 or 50% of the appraised value, whichever is greater.
  

Disabled Veteran Exclusion Program:

• Permanent residence owned and occupied by an honorably discharged disabled veteran or the unmarried surviving spouse of an honorably discharged veteran
• Veteran who as of January 1 has a permanent and total service-connected disability
• Must be a North Carolina resident
• Assessment reduction of $45,000
• No age requirement
• No income requirement
• One time application required
• Deadline to submit application is June 1
• Must provide veteran's disability certification from VA or other federal agency or present evidence of benefits received for specially adapted housing under 38 USC 2101
  

Homestead Circuit Breaker Program:

• Age 65 or older or total and permanent disability
• Must have owned and occupied property as the owner's permanent legal residence for 5 years
• Must be a North Carolina resident
• Income can not exceed $46,500
• Tax Limitation is 4% of income is $31,000 or less
• Tax Limitation is 5% of income if income is between $31,101 to $46,500
  • Income = $0 to $31,000: Taxes are limited to 4% of income.
  • Income = $31,101 to $46,500: Taxes are limited to 5% of income.
  • Income= Over $46,500: Does not qualify.
• Taxes over the limitation are deferred taxes
• Deferred taxes are a lien on the property
• Interest accrues on deferred taxes as if they had been payable on the original due dates
• The last three years of deferred taxes preceding the current tax year become due and payable upon a disqualifying event
• Disqualifying events are:
  • Death of the owner
  • Transfer of the property
  • Owner ceases to use property as a permanent residence
• There are certain exceptions to disqualifying event rules
  • Death is not a disqualifying event if ownership passes to a co-owner or spouse
  • Transfer is not a disqualifying event if title passes to a co-owner, or to a spouse as a result of divorce proceeding