This bill amends existing property tax exemption laws for honorably discharged veterans with service-connected disabilities in New Jersey. It establishes a proportional property tax exemption based on the percentage of disability, starting at a minimum of 25 percent, with a cap of $15,000 for those with disabilities less than 100 percent. However, veterans deemed unemployable due to their service-connected disabilities will receive a full 100 percent exemption, aligning with the current provisions for those with a 100 percent disability rating. The bill also extends the exemption to the surviving spouses of eligible veterans, maintaining the existing benefits for them.

Additionally, the bill removes specific medical conditions from eligibility criteria, allowing any service-connected disability recognized by the United States Department of Veterans' Affairs to qualify for the exemption. To support municipalities financially, the bill mandates that the State reimburse taxing districts annually for the cost of these exemptions, including administrative expenses. It also includes reporting requirements to ensure accurate reimbursement calculations. The changes aim to simplify the process and broaden the scope of eligibility for veterans seeking property tax relief.

Statutes affected:
Introduced: 54:4-3.30