Bill Summary for H 432 (2025-2026)
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| View NCGA Bill Details | 2025-2026 Session |
AN ACT TO INCREASE THE EXCLUSION AMOUNT UNDER THE ELDERLY OR DISABLED PROPERTY TAX HOMESTEAD EXCLUSION, TO EXPAND THE DISABLED VETERAN PROPERTY TAX HOMESTEAD EXCLUSION, TO CREATE THE HOMEOWNER ADVANTAGE PROPERTY TAX RELIEF PROGRAM AND THE ELDERLY PROPERTY TAX HOMESTEAD CIRCUIT BREAKER PROGRAM AND TO MAKE CONFORMING CHANGES NECESSARY TO IMPLEMENT THOSE PROGRAMS, AND TO CREATE EXEMPTIONS TO THE FORCED SALE OF A HOMESTEAD.Intro. by Echevarria, Winslow, N. Jackson, Dixon.
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Bill summary
House committee substitute replaces the 1st edition in its entirety with the following.
Directs the Revenue Laws Study Committee (Committee) to study options for enhancing the property tax relief currently afforded to low-income, elderly, and disabled citizens and disabled veterans and consider other property tax reforms that may reduce the property tax burden while balancing the potential impact on local government revenue. Lists six matters that the Committee may consider as part of the study. Authorizes the Committee to consult with any other relevant State, local, or private entity in conducting the study. Requires the Committee to report its findings, along with any legislative recommendations, to the 2026 Regular Session of the 2025 General Assembly.