H489: Increase Disabled Veteran Prop Tax Benefit. Latest Version

Session: 2023 - 2024

House
Passed 1st Reading


AN ACT to increase the Disabled veteran property tax homestead exclusion.



The General Assembly of North Carolina enacts:



SECTION 1.  G.S. 105‑277.1C(a) reads as rewritten:



(a)      Classification. – A permanent residence owned and occupied by a qualifying owner is designated a special class of property under Article V, Section 2(2) of the North Carolina Constitution and is taxable in accordance with this section. The first forty‑five fifty‑four thousand dollars ($45,000) ($54,000) of appraised value of the residence is excluded from taxation. A qualifying owner who receives an exclusion under this section may not receive other property tax relief.



SECTION 2.  This act is effective for taxes imposed for taxable years beginning on or after July 1, 2023.