NC S148

Increases the property tax homestead exclusion amount for disabled veterans from $45,000 to $100,000 of appraised value effective July 1, 2024, with further increases to $150,000 effective July 1, 2026, and $200,000 effective July 1, 2028

Establishes a reimbursement system where the Secretary of Revenue distributes funds to counties and cities equal to the "total hold harmless amount" (property value excluded multiplied by local tax rate) to offset revenue loss from the increased exclusion

Allows disabled veterans to prequalify for the exclusion before purchasing a home, enabling them and lenders to determine the tax benefit in advance for mortgage payment calculations

Permits prequalified veterans to provide a prequalification notice from the county assessor instead of disability certification to establish eligibility for the exclusion

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