North Carolina voters approve tax limits on income and property as cost of living tops voters’ worries

North Carolina voters approved a constitutional amendment capping income and property taxes, a measure opponents say will deliver limited relief to homeowners while generating substantial savings for corporations. The amendment limits the state income tax rate to 7% and restricts property tax growth, locking in constraints that could reshape North Carolina's revenue structure for years. Supporters framed the measure as a check on tax increases amid rising living costs, which voters cited as their top concern. Critics argue the property tax cap offers modest benefits to individual homeowners while the income tax ceiling disproportionately favors businesses. The result adds North Carolina to a growing list of states encoding tax limits in their constitutions, a trend that could pressure lawmakers to find alternative revenue sources for public services.