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NJ S153

NJ S153
Makes total property tax exemption for 100% disabled veterans retroactive to effective date of determination of total disability; requires State to reimburse municipalities for reimbursement of property taxes paid to veteran.


summary

Introduced
01/13/2026
In Committee
01/13/2026
Crossed Over
Passed
Dead

Introduced Session

2026-2027 Regular Session

Bill Summary

This bill provides that the total property tax exemption extended to totally disabled veterans is to be retroactive to the effective date of the determination of the veteran's total disability by the United States Department of Veterans' Affairs. The bill also requires that the governing body of each municipality return all taxes collected on the veteran's property after the effective date of the determination of total disability by the United States Department of Veterans' Affairs, and requires the State to reimburse municipalities for the amount of such property taxes returned to a totally disabled veteran pursuant to the requirements of the bill.

AI Summary

This bill makes a property tax exemption for 100% disabled veterans retroactive to the date the United States Department of Veterans' Affairs (VA) determined their total disability, meaning they will now receive refunds for taxes paid on their primary residence from that date forward. Previously, the exemption might not have been applied retroactively, and municipalities were not mandated to provide refunds or receive state reimbursement for these exemptions. Under this new law, municipalities are required to return any property taxes collected from these veterans after the VA's determination date, and the State will then reimburse the municipalities for these returned taxes, plus an additional 2% to cover administrative costs.

Committee Categories

Housing and Urban Affairs

Sponsors (6)

Last Action

Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 01/13/2026)

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