For many homeowners in Southeastern North Carolina, the property tax bill is the most dreaded piece of mail of the year. With property values rising across New Hanover, Pender, Onslow, and Brunswick counties, those tax bills are climbing, too.

However, for two of our most vital populations—seniors and veterans—there is significant relief available, often hiding in plain sight. These programs, collectively known as the Homestead Exemption, can shave thousands of dollars off a tax bill. Whether you are a retiree in Southport, a disabled veteran in Jacksonville, or an adult child helping aging parents in Wilmington, understanding these rules is crucial for protecting your investment.

1. The Elderly or Disabled Exclusion

This is the most common form of relief for retirees living on a fixed income. It allows qualifying homeowners to exclude the greater of $25,000 or 50% of the appraised value of their permanent residence from taxation.

Who Qualifies?

• Age/Disability: You must be at least 65 years old OR totally and permanently disabled.
• Income Limit: For the 2025 tax year, your total household income for the previous year (2024) cannot exceed $37,900.

Real-World Example: If you own a home in Pender County appraised at $200,000, this program would exempt $100,000 of that value. You would only be taxed on the remaining $100,000, effectively cutting your tax bill in half.

2. The Disabled Veteran Exclusion

With major bases like Camp Lejeune and New River nearby, Onslow and Pender counties are home to a massive veteran population. This exclusion is a thank-you note from the state that carries real financial weight.

The Benefit: It excludes the first $45,000 of the appraised value of a permanent residence. Unlike the elderly exclusion, there is no income limit for this program.

Who Qualifies?

• Honorably discharged veterans who have a 100% total and permanent service-connected disability.
• Unmarried surviving spouses of qualified veterans.

Note: You will need Form NCDVA-9 certified by the VA to prove your eligibility.

3. The "Circuit Breaker" Deferment

For those who are "house rich but cash poor," the Circuit Breaker program doesn't just reduce taxes; it limits them to a percentage of your income.

How it Works:

• Income under $37,900: Taxes are capped at 4% of your income.
• Income between $37,900 and $56,850: Taxes are capped at 5% of your income.

The Catch: The difference between what you pay and what you owe is deferred, not forgiven. It becomes a lien on the property. This is a strategic tool for seniors who want to age in place but requires careful planning if you intend to leave the home to heirs.

The "Hidden" Deadline

The most important detail for all these programs is the calendar. Applications must be filed with your county Tax Administrator by June 1st. If you miss this date, you generally have to wait until the following year to see any relief.

Why This Matters for Real Estate

For Sellers: If you are selling a home that is currently under an exemption, be transparent. The new buyer needs to know that their tax bill will likely be higher than yours until they file for their own relief.

For Buyers: When analyzing a potential property, don't just look at the current owner’s tax bill on Zillow. If they were a disabled veteran, that low tax number might disappear the day you close. Always calculate taxes based on the full purchase price.

Navigating the Fine Print

Tax laws are complex, and the paperwork can be daunting, but the savings are worth the effort.

At Aspyre Realty Group, we believe part of finding the perfect home is ensuring you can afford to stay in it. We help our clients look beyond the listing price to understand the true cost of ownership—including the tax breaks you might be entitled to. Whether you are downsizing to a retirement haven or using your VA loan for the first time, we are here to guide you through every step of the process.