Bill > ACR149

Introduced Session

This proposed amendment to the New Jersey Constitution would require the Legislature to enact a law providing a partial property tax exemption for the primary residence of a police officer or firefighter who suffers an injury in the line of duty and qualifies for an accidental disability pension. The amount of the exemption would be 50 percent of the assessed value of the principal residence of the police officer or firefighter, up to a certain amount. The value of the property tax exemption could not exceed $6,500 in the first tax year in which the exemption takes effect. Thereafter, this amount would be increased annually based on the percentage increase in the Consumer Price Index, as defined by law, in the prior tax year. A police officer or firefighter with income over $500,000 in the prior tax year would not be eligible claim the exemption. This income eligibility limit is based on the amount set forth under the Stay NJ property tax credit program, which permits homeowners who are 65 years or older to claim a Stay NJ property tax credit so long as their annual income does not exceed $500,000. The proposed amendment requires the State to annually reimburse municipalities for the total amount of the property tax exemption. The State reimbursement would be based on the amount of property taxes that would have otherwise been due on each property that receives the exemption. A municipality would be required to reimburse any county, school district, or other local entity that is authorized to tax property in the municipality. The reimbursement to each entity would be based on the amount of property taxes that would have been owed to each entity from each exempt property.

AI Summary

Committee Categories

Alex Sauickie (R)*,  John Azzariti (R), 

Introduced, Referred to Assembly State and Local Government Committee (on 01/14/2025)

Taxonomy

Official Document