(Source: The Sun News (Myrtle Beach, S.C.))

By Steve Jones, The Sun News, Myrtle Beach, S.C.
Apr. 28--ASH, N.C. -- Brunswick County commissioners want the state legislature to look at raising the income levels for people to qualify for property tax relief and the amount of property tax that could be written off.
Commissioners have forwarded a resolution to the state county commissioners association seeking endorsement for the measure, which would raise the income level for relief from $25,600 to $30,000 and the amount of property tax to be exempted from the county levy from $25,000 or 50 percent of the property's value, whichever is higher, to $30,000 or 50 percent of the value.
The relief rate and income levels, known collectively as Homestead Exemption, is set by state law, and a change would need legislative action.
A bill filed in the current legislative session is seeking a statewide referendum to freeze property tax valuations for owner-occupied property of residents 70 years old and older who have lived on the property for at least five years.
Tom Davis, the county's tax administrator, said he hasn't calculated how much the increased relief would lower the county's property tax revenue, but he doesn't think it would be a large amount.
He said that 1,100 Brunswick property owners currently qualify for the relief and isn't sure how many more would be eligible if the income level is raised.
"I don't think it will have a major impact," Davis said. "I do think it has the potential to help people on the lower end of the scale."
The Brunswick commissioners' resolution was the first recommendation from a newly formed Brunswick County Tax Task Force, which is headed by Commissioner Charles Warren.
The county's resolution is titled as an assistance for elderly residents who are on fixed incomes, but state law allows the exemption for permanently disabled property owners as well.
Warren said the idea is to offer some relief to residents who are particularly vulnerable to increases in property valuations. The last valuation saw increases throughout the county, and the amount of them has been the source of complaints, particularly since the real estate market and sales prices have fallen.
Warren said he would not support the increased relief if it meant that the county's property tax had to be increased to make up for revenue lost due to the increase.
But he said that with the kind of rapid escalation in property values as was the case in the 2007 revaluation, some people can be squeezed.
"It makes it kind of difficult for them to pay their taxes," he said.
Davis believes that valuations are likely to drop in the upcoming valuation, which will take effect on Jan. 1, 2011.
Contact STEVE JONES at 910-754-9855.
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