Bill
Bill > S1076
NJ S1076
NJ S1076Authorizes proportional property tax exemption for honorably discharged veterans having a service-connected disability and requires State to reimburse municipalities for cost of exemption.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
The bill grants a property tax exemption to honorably discharged veterans having a service-connected disability in proportion to their disability percentage rating. The exemption is granted to those with a disability percentage rating of at least 25 percent, and the exemption is capped at $15,000. Those with a 100 percent disability percentage rating would still be allowed a 100 percent property tax exemption without a cap, as is the case under current law. In addition, the bill grants those honorably discharged veterans having less than a 100 percent service-connected disability, but who are unemployable, a 100 percent property tax exemption, which matches the current 100 percent property tax exemption for honorably discharged veterans having a 100 percent disability percentage rating. As under current law, the bill allows the property tax exemption to extend to the surviving spouse of a veteran. The bill eliminates all references to medical conditions so that any service-connected disability, as determined by the United States Department of Veterans' Affairs, will make a veteran eligible for the property tax exemption. Finally, the bill requires the State to annually reimburse taxing districts, including for administrative costs, for the property tax exemptions granted to disabled veterans and their surviving spouses. The bill includes reporting provisions so proper reimbursement can be made.
AI Summary
This bill expands property tax exemptions for honorably discharged veterans with service-connected disabilities, meaning disabilities incurred during military service as recognized by the U.S. Department of Veterans' Affairs. Previously, specific severe conditions were listed, but this bill removes those limitations, allowing any service-connected disability rating to qualify. Veterans with a disability rating of at least 25 percent will receive an exemption proportional to their disability percentage, capped at $15,000, though those with a 100 percent disability rating will continue to receive a full exemption without a cap. Additionally, veterans with a service-connected disability that makes them unemployable, even if their rating is less than 100 percent, will also receive a full property tax exemption. The exemption extends to surviving spouses of eligible veterans. Crucially, the State will now reimburse municipalities for the cost of these exemptions, including administrative expenses, to ensure local governments are not financially burdened.
Committee Categories
Military Affairs and Security
Sponsors (2)
Last Action
Introduced in the Senate, Referred to Senate Military and Veterans' Affairs Committee (on 01/09/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/S1076 |
| BillText | https://pub.njleg.gov/Bills/2026/S1500/1076_I1.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/S1500/1076_I1.HTM |
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