Bill

Bill > A2717


NJ A2717

Authorizes proportional property tax exemption for honorably discharged veterans having a service-connected permanent disability and proclaims that the State shall reimburse municipalities for costs of exemption.


summary

Introduced
01/09/2024
In Committee
01/09/2024
Crossed Over
Passed
Dead

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 only granted to those with a disability percentage rating of at least 30 percent, and the exemption is capped at $10,000. 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 100 percent property tax exemption to extend to the surviving spouse of a veteran. However, the newly allowed property tax exemption for a veteran with a less than 100 percent property tax exemption would not extend to the surviving spouse. The bill also 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 proclaims that the State shall 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 grants a property tax exemption to honorably discharged veterans with a service-connected disability of at least 30 percent, with the exemption amount proportional to their disability percentage rating. The exemption is capped at $10,000, except for those with a 100 percent disability rating who would still receive a 100 percent exemption. The bill also provides a 100 percent exemption for veterans with less than a 100 percent disability rating who are deemed unemployable due to their service-connected disability. Additionally, the bill requires the State to annually reimburse taxing districts for the property tax exemptions granted to disabled veterans and their surviving spouses, and includes reporting provisions to facilitate this reimbursement.

Committee Categories

Military Affairs and Security

Sponsors (35)

Last Action

Motion To Table (41-28-0) (Greenwald) (on 09/26/2024)

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