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Circuit Breaker Program

Property Tax Deferment for qualifying Senior Citizens and persons permanently disabled.

North Carolina General Statute §105-277.1(b) "Property Tax Homestead Circuit Breaker Deferment" allows residents to defer a portion of the property taxes on the appraised value of a permanent residence owned and occupied by a North Carolina resident.

Requirements

  • Property must be owned & occupied at least 5 years by a North Carolina Resident who is at least 65 years of age or totally & permanently disabled.
  • If the owner's income is $30,200 or less, then the portion of property taxes imposed on the residence that exceeds 4% of the owner's income may be deferred.
  • If the owner's income is more than $30,200 but less than or equal to $45,300, then the portion of the property taxes on the residence that exceeds 5% percent of the owner's income may be deferred.
  • Multiple owners of a permanent residence must all qualify for the circuit breaker before a deferment of taxes will be allowed.

Program Details

The deferred taxes become a lien on the residence and the most recent three years of deferred taxes preceding a disqualifying event become due with interest upon one of the following disqualifying events:

  1. the owner transfers the residence;
  2. the owner dies;
  3. the owner ceases to use the property as a permanent residence.

You must apply for the opportunity to defer property taxes each and every year that you wish to defer taxes. Applications must be made prior to June 1 of the year for which exemption is desired.

NOTE:An owner who qualifies for both the property tax homestead exclusion and the property tax homestead circuit breaker may elect to take only one of these forms of property tax relief.

Locate & Contact

Tax Assessment - Exemptions

Contact

Real Estate Assessment
P: (828) 250-4940

Land Records
P: (828) 250-4970

Tax Exemptions
P: (828) 250-4915

Tax Assessment
155 Hilliard Avenue
Asheville, NC 28801

Mailing Address

Tax Assessment
94 Coxe Avenue, Suite 101
Asheville, NC 28801

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Hours of Operation

Monday - Friday
8:00 a.m. to 5:00 p.m.

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NOTE: Free limited parking is available at 155 Hilliard Avenue.