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Bill > A3635
NJ A3635
NJ A3635Requires partial State reimbursement to municipalities for cost of disabled veterans' total property tax exemption.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill would require the State to annually reimburse municipalities for a portion of forgone property tax revenue attributable to real property owned by veterans who are permanently and totally disabled and receive a total property tax exemption under State law. Currently, the State is not required to reimburse municipalities for any part of the lost property tax revenue attributable to that property tax exemption. This bill would require the State to annually reimburse each municipality in which permanently and totally disabled veterans reside and own real property in an amount equal to 10 percent of the amount of any disabled veterans' total property tax exemptions granted in the taxing district, plus an additional two percent of that amount as a reimbursement for municipal administrative costs.
AI Summary
This bill requires the State to partially reimburse municipalities for the property tax revenue they lose due to granting total property tax exemptions to disabled veterans. Currently, municipalities bear the full cost of these exemptions, which are available to honorably discharged veterans with specific service-connected disabilities, including total blindness, amputation of limbs, or a 100% permanent disability rating from the U.S. Department of Veterans' Affairs. Under this bill, the State will annually reimburse each municipality an amount equal to 10% of the total value of these disabled veterans' property tax exemptions granted in that municipality, plus an additional 2% to cover the municipality's administrative costs associated with processing these exemptions.
Committee Categories
Military Affairs and Security
Sponsors (2)
Last Action
Introduced, Referred to Assembly Military and Veterans' Affairs Committee (on 01/13/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/A3635 |
| BillText | https://pub.njleg.gov/Bills/2026/A4000/3635_I1.HTM |
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