Bill > S128

This bill increases the property tax homestead exclusion amount for disabled veterans in North Carolina from $45,000 to $76,500. A homestead exclusion is a tax benefit that reduces the taxable value of a primary residence, which in this case specifically applies to properties owned and occupied by qualifying disabled veterans. The bill designates this as a special property classification under the North Carolina Constitution, meaning disabled veterans will be able to exclude $76,500 of their home's appraised value from property taxation. The legislation specifies that a veteran receiving this exclusion cannot simultaneously receive other property tax relief, and the new tax exclusion amount will be effective for tax years beginning on or after July 1, 2026. By increasing the homestead exclusion, the bill aims to provide greater financial relief to disabled veterans by reducing their property tax burden.

https://www.ncleg.gov/BillLookUp/2025/S128