This bill amends existing law to provide a total property tax exemption for 100% disabled veterans, making the exemption retroactive to the effective date of the determination of total disability by the United States Department of Veterans Affairs. The legislation stipulates that the governing body of each municipality must return all taxes collected on properties that would have been exempt had a proper claim been made, effective from the date of the total disability determination. Additionally, the bill mandates that the State reimburse municipalities for the property taxes returned to the veterans.

The bill also clarifies the process for claiming the exemption, requiring a written claim under oath, along with necessary documentation proving the veteran's honorable discharge and service-connected disability. It ensures that surviving spouses of eligible veterans can also claim the same exemptions under specified conditions. The State's reimbursement to municipalities is set at 102% of the amount of property tax reimbursement granted, ensuring that local governments are compensated for the tax exemptions provided to disabled veterans.

Statutes affected:
Introduced: 54:4-3.30, 54:4-3.31, 54:4-3.32