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SB 128

Relating to the transmission of electric power.

2025 Regular Session Introduced by Jeff Golden

Raises the disabled veteran homestead tax exclusion from $45,000 to $76,500, cutting taxable value for qualifying veterans’ homes starting with 2026 taxes (no other relief allowed).

In committee upon adjournment.
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Bill Summary · SB 128

SB 128 — "Heroes Homestead Act" (Senate Bill 128, 2025)

Purpose / Intent

SB 128 increases the dollar amount of the property-tax homestead exclusion available to qualifying disabled veterans. The bill’s stated intent is to expand tax relief for veterans with service‑connected disabilities who own and occupy their homes.

Key provisions

  • Amends G.S. 105‑277.1C (Disabled veteran property tax homestead exclusion).
  • Raises the excluded portion of a qualifying residence’s appraised value from $45,000 to $76,500. In other words, the first $76,500 of the residence’s appraised value is excluded from property taxation for an eligible homestead (previously $45,000).
  • Maintains the existing limitation that a qualifying owner who receives this exclusion may not also receive other forms of property tax relief under the statute (i.e., the exclusion is exclusive of other relief provided by that section).

Who is affected

  • Primary beneficiaries: qualifying owners as defined in G.S. 105‑277.1C — i.e., disabled veterans who own and occupy a residence that qualifies for the disabled‑veteran homestead exclusion.
  • Secondary affected parties: local taxing units (counties, municipalities, school districts) and taxpayers generally, because the exclusion reduces the taxable base of affected properties and therefore can lower property tax collections in jurisdictions with eligible recipients.

Fiscal and policy considerations

  • The exclusion reduces the taxable value of qualifying residences by an additional $31,500 per eligible homestead (increase from $45,000 to $76,500), which will lower property tax revenue where such exclusions are claimed.
  • The bill text provided does not include an explicit fiscal note or appropriation; local revenue impacts will vary by jurisdiction depending on the number of eligible recipients and local tax rates.

Timeline / Effective date

  • Effective for taxes imposed for taxable years beginning on or after July 1, 2026.
  • Status reported: Passed first reading (per bill information provided). Further legislative steps (committee action, subsequent readings, enrollment, and signature) are required for enactment.

Additional notes

  • The bill text in the supplied materials is concise and limited to the single statutory amendment increasing the exclusion amount and reiterating that recipients may not receive other property tax relief under that statute.
  • For implementation, local tax offices will need updated guidance on calculating exclusions beginning with the 2026–27 tax year.

Compiled from official sources — confirm details with the bill’s official record.

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