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Bill > ACR59

NJ ACR59

NJ ACR59
Proposes constitutional amendment to allow veterans, senior citizens, and persons with disabilities who make payments in lieu of property taxes to receive certain property tax benefits.

summary

Introduced
01/09/2024
In Committee
01/09/2024
Crossed Over
Passed
Dead
01/12/2026

Introduced Session

2024-2025 Regular Session

Bill Summary

If approved by the voters of the State, this proposed constitutional amendment would allow veterans, senior citizens, and persons with disabilities to receive property tax benefits authorized in the Constitution if they pay "in lieu of tax payments" instead of property taxes. In lieu of tax payments are payments negotiated by a developer and a town under a financial agreement related to a construction project under some State laws. The constitution allows certain exemptions on property taxation for the development or redevelopment of blighted areas. Owners who purchase property in these developments pay an in lieu of tax payment instead of property taxes. A homeowner who is an honorably discharged veteran would receive a $250 deduction from the payment in lieu of taxes. An honorably discharged veteran homeowner who is totally disabled due to military service would not have to pay any in lieu of tax payment. A senior citizen homeowner or a homeowner with a disability would receive a $250 deduction from the payment in lieu of taxes.

AI Summary

This concurrent resolution proposes a constitutional amendment to extend existing property tax benefits to veterans, senior citizens, and persons with disabilities who make payments in lieu of taxes (PILOTs) instead of traditional property taxes. Specifically, the amendment would allow honorably discharged veterans to receive a $250 deduction from PILOT payments, with totally disabled veterans being exempt from such payments entirely. Similarly, senior citizens and persons with disabilities would also qualify for a $250 deduction from PILOT payments. PILOTs are negotiated payments made by developers to a town under a financial agreement related to construction projects, typically in areas designated for development or redevelopment. The proposed amendment aims to ensure that individuals who would normally qualify for property tax exemptions can receive similar benefits even when they are paying PILOTs instead of standard property taxes. If approved, the amendment will be submitted to voters at the next general election, with detailed ballot language explaining the proposed changes and their potential impact on qualifying homeowners.

Committee Categories

Government Affairs

Sponsors (2)

Last Action

Introduced, Referred to Assembly State and Local Government Committee (on 01/09/2024)
(1 Companion Bills)

bill text

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Document Type Source Location
State Bill Page https://www.njleg.state.nj.us/bill-search/2024/ACR59
BillText https://pub.njleg.gov/Bills/2024/ACR/59_I1.HTM
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