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FILED SENATE GENERAL ASSEMBLY OF NORTH CAROLINA Mar 25, 2025 S.B.
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2025 S 1 SENATE BILL 660 Short Title:
660 SESSION 2025 PRINCIPAL CLERK S D SENATE BILL DRS15208-NIf-74 Short Title:
A BILL TO BE ENTITLED AN ACT TO GRADUALLY INCREASE THE EXEMPTION AMOUNT UNDER THE DISABLED VETERAN PROPERTY TAX HOMESTEAD EXCLUSION, TO ALLOW DISABLED VETERANS TO PREQUALIFY FOR THE DISABLED VETERAN PROPERTYTAXHOMESTEADEXCLUSION, TOEXCLUDETHEPRIMARYMOTOR VEHICLE OWNED BY A ONE HUNDRED PERCENT DISABLED VETERAN FROM THE PROPERTY TAX, AND TO REIMBURSE LOCAL GOVERNMENTS FOR A PERCENTAGE OF THEIR RESULTING REVENUE LOSS.
Rules and Operations of the Senate March 26, 2025 A BILL TO BE ENTITLED AN ACT TO GRADUALLY INCREASE THE EXEMPTION AMOUNT UNDER THE DISABLED VETERAN PROPERTY TAX HOMESTEAD EXCLUSION, TO ALLOW DISABLED VETERANS TO PREQUALIFY FOR THE DISABLED VETERAN PROPERTYTAXHOMESTEADEXCLUSION,TOEXCLUDETHEPRIMARYMOTOR VEHICLE OWNED BY A ONE HUNDRED PERCENT DISABLED VETERAN FROM THE PROPERTY TAX, AND TO REIMBURSE LOCAL GOVERNMENTS FOR A PERCENTAGE OF THEIR RESULTING REVENUE LOSS.
–Aveteranof anybranchofthe ArmedForcesoftheUnited States whose character of service at separation was honorable or under honorable conditions and who satisfies one of the following requirements:
–Aveteranofanybranchofthe ArmedForcesoftheUnited States whose character of service at separation was honorable or under honorable conditions and who satisfies one of the following requirements:
*DRS15208-NIf-74* General Assembly Of North Carolina Session 2025 a.
*S660-v-1* General Assembly Of North Carolina Session 2025 a.
The veteran has received a certification by the United States Department of Veterans Affairs or another federal agency indicating that, as of January1preceding thetaxable yearfor whichthe exclusion allowed by this section is claimed, he or she has a service-connected, permanent, and total disability.
The veteran has received a certification by the United States Department of Veterans Affairs or another federal agency indicating that, as of January1precedingthe taxable yearfor whichthe exclusion allowed by this section is claimed, he or she has a service-connected, permanent, and total disability.
A county that fails to notify the Secretary of Revenue of its total hold harmless amount by the due date is barred from receiving a reimbursement under this subsection for that taxable year.
A countythat fails to notifythe Secretaryof Revenue of its total hold harmless amount by the due date is barred from receiving a reimbursement under this subsection for that taxable year.
provided, however, that if the hold harmless amount for any city or county exceeds one percent (1%) of its total general fund Page 2 DRS15208-NIf-74 General Assembly Of North Carolina Session 2025 revenue for the most recent fiscal year, the Secretary of Revenue shall also reimburse that city or county for all amounts exceeding that threshold.
provided, however, that if the hold harmless amount for any city or county exceeds one percent (1%) of its total general fund Page 2 Senate Bill 660-First Edition General Assembly Of North Carolina Session 2025 revenue for the most recent fiscal year, the Secretary of Revenue shall also reimburse that city or county for all amounts exceeding that threshold.
Any funds received by a county or city because the county or city was collecting taxes for another unit of government or special district must be credited to the funds of that other unit or district in accordance with regulations issued by the Local Government Commission.
Any funds received by a county or city because the county or city was collecting taxes for another unit of government or special district must be credited to the funds of that other unit or district in accordance with regulations issued bythe Local Government Commission.
An application for prequalification underthis subsection may be filed at any time, must be submitted on a form approved by the Department, and must be accompanied by a copy of the veteran's disability certification or evidence of benefits received under 38 U.S.C.
An applicationfor prequalification underthis subsection may be filed at any time, must be submitted on a form approved by the Department, and must be accompanied by a copy of the veteran's disability certification or evidence of benefits received under 38 U.S.C.
Upon receipt of an applicationunderthis subsection, theassessor ofthecounty in which the application is filed must notify the applicant of the applicant's qualification for eligibility for property tax relief under this section within 30 days.
Upon receipt of an applicationunderthis subsection, theassessor ofthecountyin which the application is filed must notify the applicant of the applicant's qualification for eligibility for property tax relief under this section within 30 days.
Upon purchasing a permanent residence, an applicant who has received prequalification under this subsection must apply for the property tax relief provided by this section as required under subsection (f) of this section." SECTION 1.(b) For taxes imposed for taxable years beginning on or after July 1, 2026, G.S.
Upon purchasing a permanent residence, an applicant who has received prequalification under this subsection must apply for the propertytax relief provided by this section as required under subsection (f) of this section." SECTION 1.(b) For taxes imposed for taxable years beginning on or after July 1, 2026, G.S.
Aqualifyingownerwhoreceives anexclusionunderthis sectionmaynot receiveother property tax relief." PART II.
Aqualifyingownerwhoreceives anexclusion underthis sectionmaynot receiveother property tax relief." PART II.
DRS15208-NIf-74 Page 3 General Assembly Of North Carolina Session 2025 … (5b) A motor vehicle (i) owned by a person who has a one hundred percent (100%) disability rating certified by the United States Department of Veterans Affairs and (ii) used by that person as their primary personal vehicle.
Senate Bill 660-First Edition Page 3 General Assembly Of North Carolina Session 2025 … (5b) A motor vehicle (i) owned bya person who has a one hundred percent (100%) disabilityrating certified bythe United States Department of Veterans Affairs and (ii) used by that person as their primary personal vehicle.
"(f) HoldHarmlessReimbursement.–OnorbeforeSeptember1ofeachyear,eachcounty tax collector shall notify the Secretary of Revenue, in a manner prescribed by the Secretary, of the county's total hold harmless amount.
"(f) HoldHarmlessReimbursement.–OnorbeforeSeptember1ofeach year,eachcounty tax collector shall notify the Secretary of Revenue, in a manner prescribed by the Secretary, of the county's total hold harmless amount.
A county that fails to notify the Secretary of Revenue of its total hold harmless amount by the due date is barred from receiving a reimbursement under this subsection for that taxable year.
A county that fails to notify the Secretary of Revenue of its total hold harmless amount bythe due date is barred from receiving a reimbursement under this subsection for that taxable year.
Any funds received by a county or city because the county or city was collecting taxes for another unit of government or special district must be credited to the funds of that other unit or district in accordance with regulations issued by the Local Government Commission.
Any funds received by a county or city because the county or city was collecting taxes for another unit of government or special district must be credited to the funds of that other unit or district in accordance with regulations issued bythe Local Government Commission.
The purpose of the program is to provide financial assistance in the form of grants to eligible Page 4 DRS15208-NIf-74 General Assembly Of North Carolina Session 2025 entities to promote affordable housing initiatives for veterans, infrastructure improvements for veterans, and veteran employment programs, in accordance with this section.
The purpose of the program is to provide financial assistance in the form of grants to eligible Page 4 Senate Bill 660-First Edition General Assembly Of North Carolina Session 2025 entities to promote affordable housing initiatives for veterans, infrastructure improvements for veterans, and veteran employment programs, in accordance with this section.
– Programs that provide down payment assistance to veterans, home repair funding to veterans, or incentives for developers to create veteran-focused housing.
– Programs that provide down payment assistance to veterans, home repair fundingto veterans, or incentives for developers to create veteran-focused housing.
– The total of all funds granted under this program may not exceed the amount allocated to the program under this act and under any future act of the General Assembly.
– The total of all funds granted under this program may not exceed the amount allocated to the program under this act and under anyfuture act of the General Assembly.
– The Department may retain up to five percent (5%) of the funds appropriated for the grant program established by this section for administrative expenses.
– The Department mayretain up to five percent (5%) of the funds appropriated for the grant program established by this section for administrative expenses.
DRS15208-NIf-74 Page 5 General Assembly Of North Carolina Session 2025 2 PART IV.
Senate Bill 660-First Edition Page 5 General Assembly Of North Carolina Session 2025 2 PART IV.
Page 6 DRS15208-NIf-74
Page 6 Senate Bill 660-First Edition
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