For veterans considering homeownership in North Carolina (NC) and South Carolina (SC), there are several property tax exemptions, homestead benefits, and financial incentives designed to make homeownership more affordable. These benefits can lead to significant tax savings and long-term financial stability.
North Carolina: Tax Benefits & Homestead Exemptions for Veterans
NC Disabled Veteran Property Tax Exclusion
North Carolina offers a property tax exclusion of up to $45,000 for honorably discharged disabled veterans or their unremarried surviving spouses.
- This exclusion applies to permanent residences (primary homes).
- Veterans must have a 100% total and permanent disability or receive benefits for specially adapted housing from the VA.
- This tax relief also extends to unremarried surviving spouses of eligible veterans.
- Veterans or surviving spouses must apply with their county tax assessor before June 1st each year.
NC Homestead Exemption for Seniors & Disabled Homeowners
Though not exclusive to veterans, North Carolina offers additional homestead property tax relief for:
- Homeowners aged 65+ or those totally & permanently disabled.
- If eligible, homeowners can receive a $25,000 or 50% reduction in their home's assessed value (whichever is greater).
💡 Stacking Benefits? In some cases, disabled veterans may qualify for both the veteran’s exemption and the homestead exemption, resulting in even more tax savings.
South Carolina: Tax Benefits & Homestead Exemptions for Veterans
SC Disabled Veterans Property Tax Exemption
South Carolina provides a full property tax exemption on the primary residence of 100% permanently and totally disabled veterans.
- This full exemption applies to honorably discharged veterans with a total and permanent disability related to their military service.
- Surviving spouses retain the benefit if they do not remarry.
- Veterans need to apply through their county assessor’s office with verification from the Department of Veterans Affairs.
SC Homestead Exemption for Seniors & Disabled Individuals
South Carolina offers a homestead exemption for all homeowners aged 65+, legally blind, or totally disabled:
- This exemption removes the first $50,000 of the home’s fair market value from taxation.
- Qualifying veterans can receive this benefit in addition to their property tax exemption.
💡 Bonus Savings for Retired Veterans: SC does not tax military retirement income, offering additional financial benefits for veterans choosing to retire and buy a home in the state.
Final Thoughts: Maximizing Your Benefits
If you’re a veteran or surviving spouse planning to buy a home in North Carolina or South Carolina, these tax exemptions can significantly lower your long-term housing costs. Applying for these benefits early ensures you maximize your tax savings.
✅ Pro Tip: Contact your county tax assessor's office or a trusted real estate professional (like The Sears Group!) to ensure you’re taking advantage of every benefit available to you.
Thinking about buying a home in NC or SC? The Sears Group specializes in helping veterans navigate homeownership, from finding the perfect property to maximizing tax savings. Reach out today to get started!
