What are the qualifications for the Circuit Breaker Tax Deferment Program?

You may be qualified for the Circuit Breaker Homestead Tax Deferment Program if you are an Iredell County Resident at least 65 years of age on January 1st of the tax year in which you wish to claim the exemption. Also, if you and your spouse's income did not exceed $45,300 for the year prior to which an application is made and you have owned and occupied your current permanent legal residence for 5 or more years.

If these qualifications do not fit, you may also qualify if you are certified totally and permanently disabled by a licensed physician or governmental agency and you and your spouse's income did not exceed $45,300 for the year prior to which an application is made. You must also have owned and occupied your current permanent legal residence in Iredell County for 5 or more years.

If the property is owned by multiple owners (other than husband and wife) every owner must meet the qualifications mentioned.




Show All Answers

1. What is the Property Tax homestead Circuit Breaker Program?
2. What are the qualifications for the Circuit Breaker Tax Deferment Program?
3. How are deferred taxes calculated and are they a lien on my property?
4. What would trigger the repayment of the deferred taxes?
5. What happens if I apply and qualify for the Circuit Breaker Deferred Tax Program for 1 or more years and in the future I no longer qualify or I fail to submit the required annual application?
6. Does all deferred taxes have to be repaid?
7. Does interest also have to be paid on deferred taxes when they become due?
8. What is considered income and how much can I make and still qualify for the circuit Breaker Tax Deferment Program?
9. What is considered part of my Homestead / Permanent Residence?
10. Do I have to apply in person?
11. How can I show that I am 100% totally and permanently disabled?
12. How do I provide proof of income?
13. When is the deadline to file an application?
14. Do I need to reapply annually?