NC S829

Increases the property tax homestead exclusion for permanently disabled veterans and surviving spouses of disabled veterans from $45,000 to $100,000 of appraised value, effective for taxable years beginning July 1, 2023.

Further increases the exclusion to $150,000 of appraised value effective for taxable years beginning July 1, 2025, and maintains that amount for taxable years beginning July 1, 2027.

Expands eligibility to include surviving spouses of disabled veterans who have not remarried and allows exclusions for deceased veterans whose deaths resulted from service-connected conditions.

Requires county tax collectors to notify the Secretary of Revenue of the total hold harmless amount by September 1 each year, with the Secretary distributing reimbursements to counties and cities by December 31.

Funds reimbursements from collections under Part 2 of Article 4, Chapter 105 of the North Carolina General Statutes, including administrative costs for the Department of Revenue.