Bill Text: NC S370 | 2011-2012 | Regular Session | Amended
Bill Title: Increase Disabled Vet Property Tax Exclusion
Spectrum: Moderate Partisan Bill (Republican 15-2)
Status: (Introduced - Dead) 2011-03-21 - Ref To Com On Finance [S370 Detail]
Download: North_Carolina-2011-S370-Amended.html
GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2011
S 1
SENATE BILL 370
Short Title: Increase Disabled Vet Property Tax Exclusion. |
(Public) |
|
Sponsors: |
Senators Tillman, Soucek; Bingham, Blake, Brock, Brown, East, Forrester, Harrington, Hise, Hunt, Jackson, Jones, Newton, Preston, Rabon, and Walters. |
|
Referred to: |
Finance. |
|
March 21, 2011
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) 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 taxable years beginning on or after July 1, 2011.