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Bill > ACR129
NJ ACR129
NJ ACR129Proposes constitutional amendment to increase amount of veterans' property tax deduction from $250 to $2,500 over four years.
summary
Introduced
03/10/2026
03/10/2026
In Committee
03/10/2026
03/10/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
If approved by the voters of the State, this proposed constitutional amendment would increase the amount of the veterans' property tax deduction from the current $250 to $2,500. The increase would occur over four years. Veterans who are honorably discharged from active service in a branch of the United States Armed Forces qualify for the deduction. A qualified veteran's surviving spouse would receive the deduction after the qualified veteran dies. The amendment would increase the amount of the deduction to $1,000 in tax year 2026, $1,500 in tax year 2027, $2,000 in tax year 2028, and $2,500 in tax year 2029, and every tax year thereafter. The voters of the State last approved an increase in the amount of the deduction in 1999, from $50 to $250, over four years. The amount of the deduction has been $250 since 2003.
AI Summary
This concurrent resolution proposes a constitutional amendment to significantly increase the property tax deduction available to honorably discharged veterans and their surviving spouses in New Jersey. Currently, the deduction is $250, a level set in 2003 after a previous increase in 1999. If approved by voters, this amendment would gradually raise the deduction amount over four years, starting at $1,000 in tax year 2026, then increasing to $1,500 in 2027, $2,000 in 2028, and finally reaching $2,500 in tax year 2029 and all subsequent years. The resolution also clarifies that surviving spouses of qualified veterans will be eligible for this increased deduction after the veteran's death.
Committee Categories
Military Affairs and Security
Sponsors (3)
Last Action
Introduced, Referred to Assembly Military and Veterans' Affairs Committee (on 03/10/2026)
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/ACR129 |
| BillText | https://pub.njleg.gov/Bills/2026/ACR/129_I1.HTM |
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