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What is the Circuit Breaker Homestead Tax Deferment Program?

April 26, 2017breaker circuit deferment homestead program tax

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What is the Circuit Breaker Homestead Tax Deferment Program?

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A. The Circuit Breaker Tax Deferment program limits the amount of taxes qualified North Carolinians, who are age 65 and over or totally and permanently disabled, must pay on their permanent residence (homestead). Taxes are limited to a percentage of their income. Taxes above that percentage are deferred until there is a disqualifying event that triggers the repayment of the deferred taxes.