Letter to the Editor: Calling on legislators to update homestead exemption
To the Editor:
General Assembly, update the homestead exemption (G.S.105-277.1). Remove the income and age requirements.
In many North Carolina counties, vacation homes have inflated real estate values. Working families as well as seniors living on fixed incomes struggle to pay increased tax bills. By the time a family pays their tax and home insurance bills as much as one third of their income disappears.
In other states and the District of Columbia, the primary residence of a family is granted a homestead exemption. If the resident is over 65 they are also granted a secondary exemption for being a senior.
Hyde County reevaluated for the first time in 8 years. Property values on Ocracoke, which were already higher than the rest of the county, doubled and tripled for many families. When all members of a family are working to pay their bills or are living on a fixed income which has not tripled this can destroy a community. There’s a big difference in one’s primary residence and the vacation house across the way with a swimming pool. Unfortunately both are appraised in the same way.
Ocracoke is not unique. Let the Homestead Exemption help every North Carolina family.
How about it, NC Legislature?
Kathleen Gaskill, Ocracoke
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