Bill > SCR140

This Concurrent Resolution proposes a constitutional amendment in New Jersey to significantly increase the property tax deduction available to honorably discharged veterans and their surviving spouses. Currently, veterans can deduct $250 from their property tax bills annually, but this resolution outlines a phased increase to $1,000 in 2024, $1,500 in 2025, $2,000 in 2026, and finally $2,500 in 2027 and all subsequent years. The resolution also clarifies how this deduction would apply to residents of continuing care retirement communities and specifies that the amendment, if approved by the legislature, will be put to a public vote at the next general election.