NC H2

Increases the disabled veteran property tax homestead exclusion from $45,000 to $100,000 of appraised value, exempting the first $100,000 from taxation.

Establishes a reimbursement mechanism requiring county tax collectors to notify the Secretary of Revenue of revenue losses by September 1 annually, with the Secretary distributing reimbursements by December 31.

Creates a new property tax homestead exclusion for surviving spouses of emergency personnel (firefighters, search and rescue, emergency medical services personnel, and law enforcement officers) killed in the line of duty, excluding the full appraised value from taxation.

Requires the Secretary of Revenue to draw reimbursement funds and administrative costs from collections under Part 2 of Article 4 of Chapter 105 of the General Statutes.

Takes effect for taxes imposed for taxable years beginning on or after July 1, 2017.