The proposed resolution seeks to amend the New Jersey Constitution to extend property tax benefits to veterans, senior citizens, and individuals with disabilities who make payments in lieu of property taxes. Specifically, it proposes that honorably discharged veterans would receive a $250 deduction from their tax bills or payments in lieu of taxes, with additional benefits for those with service-connected disabilities. The resolution also includes provisions for surviving spouses of veterans, allowing them to receive similar deductions while residing in the state. Furthermore, continuing care retirement communities would be eligible to receive property tax deductions on behalf of eligible veterans, ensuring that these benefits are passed on to residents.

If approved by voters, this amendment would allow those who pay in lieu of taxes—typically negotiated payments made by property owners in redevelopment areas—to access the same property tax benefits as those who pay traditional property taxes. The resolution outlines that honorably discharged veterans would not be required to pay in lieu of taxes if they are totally disabled due to military service, while senior citizens and individuals with disabilities would also receive a $250 deduction. The amendment aims to provide financial relief to these groups, recognizing their contributions and needs within the community.