Bill Text: NC S370 | 2011-2012 | Regular Session | Amended

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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

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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.