Property tax rates have gone up every year in Wake County since 2014, and this year's proposed budget is no different.
This year's recommended budget includes a nearly 3-cent increase over the current year or an $87 tax increase for a $300,000 home.
But there are some programs offering tax relief for people who qualify. More than 3,400 people took advantage of a program for elderly or disabled individuals, but significantly fewer took advantage of a second program geared toward people over the age of 65 and a third program for disabled veterans.
Here's a look at all three programs, including who qualifies and how to apply. But hurry, the deadline is June 1.
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Elderly or Disabled Exclusion
Qualifications: Applicants must be over the age of 65 or totally and permanently disabled. The total income for both an applicant and spouse cannot exceed $29,600. Unmarried joint property owners must each apply separately, and benefits may apply based on the percent of ownership.
What it does: The program offers a tax break of $25,000 or 50 percent of the home's appraised value, whichever is greater.
Once approved for this program an applicant doesn't have to reapply each year unless you move, your income changes or you are no longer disabled. You may only receive either the elderly or disabled exclusion or the disabled veteran exclusion. Last year there were 3,410 people who received the exclusion.
Circuit Breaker Tax Deferment Program
Qualifications: Applicants must be over the age of 65 or totally and permanently disabled. The total income for both an applicant and spouse cannot exceed $44,400. Unmarried joint property owners must each apply separately, and benefits may apply based on the percent of ownership. Each property owner must have owned and occupied the home for the previous five years.
What it does: A person making up to $29,600 would pay 4 percent of their income, while a person making between $29,601 and $44,400 would pay 5 percent of their income. Taxes above the limit are deferred until a future date. The last three year's worth of deferred taxes are paid with interest if the owner dies, the property is transferred to a non-qualifying owner or the property is no longer the owner's permanent residence.
Applicants must apply each year. Only 25 people sought the deferment last year.
Disabled Veteran Exclusion
Qualifications: Veteran discharged under honorable conditions who has a total or permanent disability that is service-connected or their unmarried surviving spouse. There is no age or income limitation on this program.
What it does: It excludes up to $45,000 of the appraised value of the home.
You may only receive either the elderly or disabled exclusion or the disabled veteran exclusion. There were 963 people who received disabled veteran exclusion last year.
How to apply:
To request an application, people are asked to call the Wake County Revenue Department at 919-856-5400. The deadline to submit an application is June 1. Late applications may be accepted for "good cause," such as a physical or mental illness, disability, death of an immediate family member or active military deployment.
More information can be found at www.wakegov.com/tax/relief.