Bill Text: NC H594 | 2010 | Regular Session | Amended

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Bill Title: Increase Disabled Vet Property Tax Exclusion

Spectrum: Bipartisan Bill

Status: (Engrossed - Dead) 2009-07-23 - Ref To Com On Finance [H594 Detail]

Download: North_Carolina-2010-H594-Amended.html

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GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2009

H                                                                                                                                                   2

HOUSE BILL 594

Committee Substitute Favorable 5/20/09

 

Short Title:        Increase Disabled Vet Property Tax Exclusion.		(Public)
Sponsors:
Referred to:

March 16, 2009

A BILL TO BE ENTITLED

AN ACT to increase the disabled veteran property tax homestead exclusion.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 105‑277.1C(a), as enacted by S.L. 2008‑107, reads as rewritten:

"(a)       Exclusion. – A permanent residence owned and occupied by an owner who is a North Carolina resident and who is an honorably discharged disabled veteran or the unmarried surviving spouse of an honorably discharged disabled veteran is designated a special class of property under Article V, Section 2(2) of the North Carolina Constitution and is taxable in accordance with this section. The first forty‑five thousand dollars ($45,000)sixty‑five thousand dollars ($65,000) of appraised value of the residence is excluded from taxation. An owner who receives an exclusion under this section may not receive other property tax relief."

SECTION 2.  This act is effective for taxes imposed for taxable years beginning on or after July 1, 2009.