Sen. Lowe files bill in North Carolina Senate to allow property tax deferral for long-term homeowners

A new bill filed by State Sen. Paul A. Lowe, Jr. seeks to create a tax relief program allowing qualifying homeowners to defer part of their property taxes under certain conditions, according to the North Carolina State Senate.

The bill, filed as SB 343 on March 19 during the 2025 regular session, was formally listed with the short title: ‘Secure Home, Secure Future Act.’

The following is our breakdown, based on the actual bill text, and may include interpretation to clarify its provisions.

In essence, this bill establishes the Secure Home and Future Property Tax Relief Benefit, which allows eligible owners of North Carolina permanent residences to defer a portion of their property tax. To qualify, owners must have occupied and owned their residence for at least 15 consecutive years before the tax year in question. The tax deferral limits the tax principal amount to the greater of a 2% increase from the prior year or recalculated tax based on property improvements. Deferred taxes remain a lien on the property and become due if certain disqualifying events occur, such as transfer, death, or change of use. Temporary absences for health reasons do not affect eligibility, and joint owner scenarios have specific criteria outlined. The bill mandates educational initiatives and annual reports regarding the tax relief’s effectiveness. This act is effective for taxes imposed starting July 1, 2026.

Of the three sponsors of this bill, Lowe proposed the most bills (15) during the 2025 regular session.

Bills in North Carolina follow a multi-step process before becoming law. A lawmaker starts by filing a bill, which is assigned to a committee for review. The bill must be read three times in each chamber. If one chamber changes the bill after the other passes it, both must agree on the final version. Once both chambers approve the same bill, it goes to the governor, who has 10 days (or 30 if the legislature is not in session) to sign, veto, or let it become law without a signature.

You can read more about the bills and other measures here.

Lowe graduated from Bishop College in 1985 with a BA and again from Drew University School of Theology with a DMIN.

Lowe, a Democrat, was elected to the North Carolina State Senate in 2015 to represent the state’s 32nd Senate district, replacing previous state senator Earline Parmon.