Bill > ACR39

Introduced Session

This concurrent resolution would amend the State Constitution to increase the amount of the veterans' property tax deduction each tax year based on the annual percentage increase in the Consumer Price Index (CPI). The CPI is a widely used method of measuring inflation and is an expression of the average change over time in the prices paid by certain consumers for the purchase of certain goods and services. CPI Indexes are issued for both the United States as a whole and for various geographic areas. Currently, citizens and residents of the State who have been honorably discharged or released under honorable circumstances from active service in the United States Armed Forces are annually entitled to a $250 deduction from the amount of property taxes due on real property. The deduction was last increased by voter approval of a constitutional amendment in 1999 to gradually raise the deduction over a period of four years. The final increase occurred in 2003 to set the amount of the deduction at $250, where it has remained ever since. To account for changes in the cost of living that have occurred since 2003, the concurrent resolution would first increase the amount of the deduction for tax year 2026 by the amount of the annual percentage increases in the CPI that have occurred each tax year from 2003 through 2025. Then, beginning in tax year 2027, the concurrent resolution requires the amount of the deduction to be annually adjusted based on the percentage increase in the CPI for that tax year. Any increase made to the deduction would be rounded to the next highest dollar increment and the amount of the deduction would not be reduced in any year, even if inflation decreases. The concurrent resolution also provides that the amount of the deduction would not be reduced for any year, even if the Consumer Price Index decreased in that year. The proposed constitutional amendment is conditional upon the enactment of implementing legislation establishing a definition of Consumer Price Index to determine increases in tax year 2026 and thereafter.

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John Azzariti (R)*,  Al Barlas (R),  Jay Webber (R), 

Introduced, Referred to Assembly Military and Veterans' Affairs Committee (on 01/13/2026)

Official Document