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Bill > ACR36
NJ ACR36
NJ ACR36Proposes 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 veterans in New Jersey from the current $250 to $500 over a five-year period. Specifically, the deduction would rise to $300 in 2023, $350 in 2024, $400 in 2025, $450 in 2026, and reach $500 in 2027 and subsequent years. The amendment applies to honorably discharged veterans who are citizens and residents of New Jersey, allowing them an annual deduction from their property tax bill. If the tax bill is less than the deduction amount, the bill will be fully cancelled. The proposed amendment also includes provisions for veterans with service-connected disabilities and surviving spouses of veterans. The resolution requires the proposed amendment to be submitted to voters at the next general election, with the ballot including an explanatory statement. This change would be the first increase in the veterans' property tax deduction since 1999, potentially providing significant financial relief for veterans in the state.
Committee Categories
Military Affairs and Security
Sponsors (8)
Chris DePhillips (R)*,
Sean Kean (R)*,
Julio Marenco (D)*,
Wayne DeAngelo (D),
Dawn Fantasia (R),
Michael Inganamort (R),
Greg McGuckin (R),
Brian Rumpf (R),
Last Action
Introduced, Referred to Assembly 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/ACR36 |
| BillText | https://pub.njleg.gov/Bills/2024/ACR/36_I1.HTM |
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