THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Saturday, February 18, 1995 TAG: 9502180375
SECTION: LOCAL PAGE: B1 EDITION: NORTH CAROLINA
SOURCE: BY BETTY MITCHELL GRAY, STAFF WRITER
DATELINE: RALEIGH LENGTH: Short : 46 lines
This week, the North Carolina Senate approved a bill that would give poor senior citizens a break on their local property taxes.
Next week, legislators are scheduled to get their first look at another bill that would give added relief to some property taxpayers.
The Senate voted 40-5 to approve a measure that would increase the number of residents who would be eligible for property tax exemptions.
Some Senate Republicans tried to change the measure so that the state would reimburse counties for the $7 million in tax revenue they would lose if the bill becomes law.
Currently, anyone over 65 with an income of less than $11,000 a year is exempted from local property taxes on $15,000 worth of property.
Under the pending proposal, state regulators would raise the income limit to $15,000 and the property value limit to $20,000.
The measure, sponsored by Sen. C.R. Edwards, a Cumberland County Democrat, now goes to the House.
If approved, it would become effective for the January 1996 listing period for taxes.
Meanwhile, a bill to give counties the authority to enact local homestead exemptions in addition to the statewide exemption - and to raise the definition of low income so that more local residents can qualify for that category - will get its first review by a Senate judiciary committee on Tuesday.
The legislation, sponsored by Rocky Mount Democrat Roy A. Cooper III, amends the state Constitution to give counties the needed flexibility to enact homestead exemptions. The legislation also requires a voter referendum to be held during the November 1996 general election.
The measure was referred to a Senate judiciary committee and, if approved, would be effective for the January 1997 listing period for 1997 taxes.
Long-time Ocracoke Island residents faced with losing their homes to rising property taxes are just one group of taxpayers who would be helped by the two bills, according to one Senate spokesman.
KEYWORDS: GENERAL ASSEMBLY TAXES by CNB