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 exemption applies to the veteran's dwelling house and lot, and it is in addition to any other exemptions allowed by law. Furthermore, the bill extends similar benefits to the surviving spouses of these veterans, allowing them to claim the same exemption during their widowhood or widowerhood, provided they meet certain residency and ownership criteria.

Additionally, the bill mandates that municipalities 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. The State is required to reimburse municipalities for the amount of property taxes returned to the veterans, ensuring that municipalities are financially supported in implementing this exemption. This legislation aims to provide financial relief to disabled veterans and their families while ensuring that municipalities are compensated for the tax revenue lost due to these exemptions.

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