Bill > H341

This bill modifies the property tax exemption for disabled veterans in North Carolina by creating a graduated tax exclusion system based on disability rating. Under the new provisions, disabled veterans can now receive a property tax exemption ranging from $25,000 to $100,000 depending on their disability rating, with higher-rated disabilities receiving larger exemptions: veterans with a 70% or greater disability rating can exclude $100,000 from their property's taxable value, those with 50-69% receive a $75,000 exclusion, those with 30-49% get a $50,000 exclusion, and those with 10-29% receive a $25,000 exclusion. The bill also provides a provision for surviving spouses, allowing them to claim an exclusion based on the veteran's disability rating at the time of death, with a minimum exemption of $45,000. To qualify, veterans must have an honorable discharge and have received a disability certification from the United States Department of Veterans Affairs. The changes will apply to taxes imposed for taxable years beginning on or after July 1, 2025, representing a significant expansion of tax relief for disabled veterans compared to the previous $45,000 flat exemption.

Military Affairs and Security

https://www.ncleg.gov/BillLookUp/2025/H341