NC H37

Expands the disabled veteran property tax homestead exclusion to exclude the entire appraised value of a primary residence from taxation, replacing the previous $45,000 limitation.

Extends eligibility to surviving spouses of disabled veterans who have not remarried.

Establishes a "hold harmless" reimbursement system where the state reimburses counties and cities for tax revenue lost due to the expanded exclusion.

Requires county tax collectors to notify the Secretary of Revenue by September 1 each year of their total hold harmless amount, with reimbursement distributed by December 31.

Takes effect for taxes imposed for taxable years beginning on or after July 1, 2024.