NC H728

Increases the disabled veteran property tax homestead exclusion from $45,000 to $75,000 (July 2025), then to $125,000 (July 2026), and finally to the lesser of $500,000 or 100% of appraised value (July 2027)

Exempts the primary motor vehicle owned by a 100% disabled veteran from property tax, excluding vehicles used primarily for business or commercial purposes

Establishes a "hold harmless" reimbursement model where the state reimburses local governments for 50% of revenue losses from these exemptions, with full reimbursement if losses exceed 1% of a locality's general fund revenue

Creates a prequalification process allowing disabled veterans to confirm eligibility for the homestead exclusion before purchasing a home

Appropriates $10 million in nonrecurring funds for a new Veterans' Economic Development Incentive Grant Program, providing $100,000 grants to eligible entities for veteran housing, accessibility infrastructure, and employment initiatives