Homestead Act Eligibility In Mecklenburg
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FAQ
In Mecklenburg County, North Carolina, the homestead exemption protects a portion of the equity in your primary residence from being seized by creditors in the event of bankruptcy or other legal actions.
The Homestead Act, enacted during the Civil War in 1862, provided that any adult citizen, or intended citizen, who had never borne arms against the U.S. government could claim 160 acres of surveyed government land. Claimants were required to live on and “improve” their plot by cultivating the land.
Qualifications: Minimum Age 65 years; OR Totally & Permanently Disabled - No Minimum Age. Combined Income Limit $37,900 (Applicant & Spouse) Permanent Residence. Must Meet Qualifications January 1. One Time Application Required. Application Deadline is June 1.
The Homestead Exclusion allows you exemption of $25,000 or 50% of your home's value (whichever provides the most benefit). This only applies to your primary residence and is limited to 1 acre or less.
The permanent residence includes the dwelling, the dwelling site (not to exceed one acre), and the related improvements. Qualifications: Minimum Age 65 years; OR Totally & Permanently Disabled - No Minimum Age. Combined Income Limit $37,900 (Applicant & Spouse)
In Mecklenburg County, North Carolina, the homestead exemption protects a portion of the equity in your primary residence from being seized by creditors in the event of bankruptcy or other legal actions.
The permanent residence includes the dwelling, the dwelling site (not to exceed one acre), and the related improvements. Qualifications: Minimum Age 65 years; OR Totally & Permanently Disabled - No Minimum Age. Combined Income Limit $37,900 (Applicant & Spouse)
North Carolina differs from most state homestead laws by not specifying an acreage limit, but only allowing up to $1,000 worth of property to be declared a homestead.
North Carolina defers a portion of the property taxes on the appraised value of a permanent residence owned and occupied by a North Carolina resident who has owned and occupied the property at least five years, is at least 65 years of age or is totally and permanently disabled, and whose income does not exceed $56,850.
