Bill

Bill > A1298


NJ A1298

NJ A1298
Permits veteran's property tax deduction for tax year when veteran was previously qualified to receive deduction and became owner of real property after October 1 of pretax year.


summary

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

Introduced Session

2026-2027 Regular Session

Bill Summary

This bill would allow a veteran who becomes the owner of the legal title to a parcel of real property after October 1 of the pretax year to be eligible to receive the veteran's property tax deduction on that parcel of real property for the tax year as long as the veteran was eligible to receive that property tax deduction on any other parcel of real property in the State prior to October 1 of the pretax year. Under current law, a veteran must be the owner of the legal title to the property as to which a veteran's property tax deduction is claimed on October 1 of the pretax year in order to be eligible to receive that property tax deduction for the tax year beginning the next January 1st. This bill would prevent a veteran from becoming ineligible for the veteran's property tax deduction if the veteran moved into a new home after October 1.

AI Summary

This bill allows veterans to receive a property tax deduction even if they purchase a new home after October 1st of the year before the tax year begins, as long as they were already eligible for the deduction on another property before that October 1st deadline. Currently, to get the veteran's property tax deduction, a veteran must own the property by October 1st of the "pretax year" (the year before the tax year for which the deduction is claimed). This change aims to prevent veterans from losing their property tax deduction simply because they moved into a new home after the October 1st cutoff.

Committee Categories

Military Affairs and Security

Sponsors (3)

Last Action

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

bill text


bill summary

Loading...

bill summary

Loading...

bill summary

Loading...