NC H695

Increases the disabled veteran property tax homestead exclusion from $45,000 to $55,000 of appraised property value.

Establishes a reimbursement mechanism requiring county tax collectors to notify the Secretary of Revenue by September 1 of annual revenue losses, with reimbursement distributed by December 31 from collections under Part 2 of Article 4 of Chapter 105.

Creates a new surviving spouse property tax homestead exclusion allowing full property value exclusion for unmarried surviving spouses of emergency personnel killed in the line of duty.

Defines eligible emergency personnel as firefighters, search and rescue workers, emergency medical personnel, forest service firefighters, and law enforcement officers with arrest authority.

Effective for taxes imposed on taxable years beginning on or after July 1, 2019.