NC H432

Revenue Laws Study Committee directed to study options for enhancing property tax relief for low-income, elderly, disabled citizens, and disabled veterans

Committee to examine three existing programs: elderly/disabled property tax homestead exclusion (G.S. 105-277.1), property tax homestead circuit breaker (G.S. 105-277.1B), and disabled veteran property tax homestead exclusion (G.S. 105-277.1C)

Study to evaluate potential modifications including increasing exclusion amounts, raising income thresholds, limiting year-to-year tax increases, and implementing alternative payment plans for homeowners

Committee to consider impacts on local government revenues and whether the State should reimburse localities or provide additional revenue-generating authority to offset lost revenue

Findings and legislative recommendations must be reported to the 2026 Regular Session of the General Assembly