HB 432 North Carolina House · 2025-2026 Session

Property Tax Relief Study.

House Bill 432 aims to provide various forms of property tax relief to North Carolina homeowners. It increases the property tax exclusion amounts for qualifying elderly or disabled homeowners and expands the exclusion for disabled veterans, allowing more of their home's value to be exempt from taxation. The bill also establishes a new "Homeowner Advantage Property Tax Relief Program" designed to cap the annual increase in a permanent residence's taxable value, based on inflation and a cumulative limit. To qualify for this program, homeowners must have occupied their residence for at least two years. Additionally, the bill creates an "Elderly Property Tax Homestead Circuit Breaker Program" and exemptions from the forced sale of a homestead.

Bill status passed 3 of 5 stages cleared

Introduction

Mar 2025

Committee Review

Apr 2025

House Passage

Apr 2025

Senate Passage

Governor

Introduced Mar 18, 2025 Last action Apr 28, 2025

Maddy AI version diff · 2 comparisons

What changed between versions

Edition 1 → Edition 2 · 4 edits

MODERATE

This bill was completely rewritten to shift from enacting specific property tax relief programs to directing a study committee to examine and recommend changes to existing programs. The original version would have immediately implemented new tax relief measures for elderly, disabled, and disabled veteran homeowners, while the new version defers action until the 2026 legislative session.

Scope change

The bill's scope changed from immediate implementation of property tax relief programs to a research and recommendation mandate for the Revenue Laws Study Committee.

SCOPE

Removed provisions that would have immediately enacted the Elderly or Disabled Property Tax Homestead Exclusion, Disabled Veteran Property Tax Homestead Exclusion, Homeowner Advantage Property Tax Relief Program, and Elderly Property Tax Homestead Circuit Breaker Program.

REQUIREMENT

Added a directive for the Revenue Laws Study Committee to examine current property tax relief programs, evaluate modifications to reduce tax burdens, consider other property tax reforms, and report findings to the 2026 Regular Session.

ELIGIBILITY

Removed specific eligibility criteria and income thresholds for property tax relief programs that were set to take effect in 2026 and 2027.

TIMELINE

Changed the effective date from immediate implementation to when the study committee reports its findings to the 2026 Regular Session.

Floor votes · House Apr 16, 2025

How they voted

111–0

Passed · 10 other

Total votes 121

Apr 16, 2025

D Democratic46

41 Yea 5

89% Yea

I Independent2

2 Yea

100% Yea

R Republican73

68 Yea 5

93% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Apr 28, 2025

Committee

Ref To Com On Rules and Operations of the Senate

upper

Apr 16, 2025

Lower · Passed

Passed 3rd Reading

lower

Apr 15, 2025

Lower · Passed

Reptd Fav

lower

Apr 15, 2025

Committee

Re-ref Com On Rules, Calendar, and Operations of the House

lower

Apr 15, 2025

Lower · Passed

Reptd Fav Com Substitute

lower

Mar 19, 2025

Committee

Ref to the Com on Finance, if favorable, Rules, Calendar, and Operations of the House

lower

Mar 18, 2025

Introduced

Filed

lower

3 primary · 14 co-sponsors