Circuit Breaker Deferment

Application Period: January 1 - June 1

Summary: Program defers some property tax on the permanent residence by limiting current year property taxes to either 4% or 5% of income (depending on current year income level). To qualify, the property owner must meet the following requirements as of January 1 of the year he/she applies:

  • Is at least 65 years old or permanently and totally disabled.
  • Has household income for 2017 of not more than $29,600 for 4% limit or $44,400 for 5% limit.
  • Is a Cabarrus County resident.
  • Home that application is made for must be applicant's permanent residence.

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

  • The owner transfers the residence.
  • The owner dies.
  • The owner ceases to use the property as a permanent residence.

Once a deferred tax bill is no longer the current year bill or one of the most recent three years tax bills, the bill is released and not payable by the taxpayer. Multiple owners of a permanent residence must all qualify for the Circuit Breaker before a deferment of taxes will be allowed to any owner.

Income is defined as all other moneys received from every source, other than gifts or inheritances received from a spouse, lineal ancestor, or lineal descendant. For married applicants residing with their spouses, the income of both spouses must be included, whether or not the property is in both names.

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