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NJ SCR40
NJ SCR40Proposes constitutional amendment to increase to $500 veterans' property tax deduction.
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
If approved by the voters of the State, this proposed constitutional amendment would increase the veterans' property tax deduction from the current $250 to: $300 in calendar year 2023, $350 in calendar year 2024, $400 in calendar year 2025, $450 in calendar year 2026 and $500 in calendar year 2027 and for each year thereafter. The veterans' property tax deduction provided for in the State Constitution was last increased in 1999, when the amount of the annual deduction was raised from $50 to $250 over four years.
AI Summary
This concurrent resolution proposes a constitutional amendment to gradually increase the property tax deduction for honorably discharged veterans from the current $250 to $500 by 2027, with the deduction reaching $300 in 2023, $350 in 2024, $400 in 2025, and $450 in 2026, and remaining at $500 thereafter, providing context that this deduction, which reduces the amount of property taxes owed, was last significantly increased in 1999.
Committee Categories
Military Affairs and Security
Sponsors (4)
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/SCR40 |
| BillText | https://pub.njleg.gov/Bills/2026/SCR/40_I1.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/SCR/40_I1.HTM |
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