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Bill > A1481


NJ A1481

NJ A1481
Excludes veteran disability compensation from income qualification limits under homestead property tax reimbursement program.


summary

Introduced
01/11/2022
In Committee
01/11/2022
Crossed Over
Passed
Dead
01/08/2024

Introduced Session

2022-2023 Regular Session

Bill Summary

This bill would allow more disabled veterans to qualify for the homestead property tax reimbursement program. The homestead property tax reimbursement program reimburses eligible senior citizens and disabled persons for property tax increases. The amount of the reimbursement is the difference between the amount of property taxes that were due and paid for the "base year" (the first year that an individual meets all the eligibility requirements) and the amount due and paid for the year that the individual is applying for the reimbursement, provided the amount paid for the current year is greater. The bill would exclude disability compensation paid by the United States Department of Veterans Affairs to a veteran from the calculation of that person's income for the purpose of determining whether the person is eligible to participate in the homestead property tax reimbursement program.

AI Summary

This bill would allow more disabled veterans to qualify for the homestead property tax reimbursement program. The bill would exclude disability compensation paid by the United States Department of Veterans Affairs to a veteran from the calculation of that person's income for the purpose of determining their eligibility to participate in the homestead property tax reimbursement program. This program reimburses eligible senior citizens and disabled persons for property tax increases, with the amount of reimbursement being the difference between the amount of property taxes due and paid in the "base year" (the first year the person meets all eligibility requirements) and the amount due and paid in the current year, provided the current year's amount is greater.

Committee Categories

Military Affairs and Security

Sponsors (7)

Last Action

Introduced, Referred to Assembly Military and Veterans' Affairs Committee (on 01/11/2022)

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