This bill aims to maintain the tax-exempt status of real property owned by 100% disabled veterans in New Jersey when their homes are destroyed by natural disasters such as floods or storms. The proposed amendments to Section 1 of P.L.1948, c.259 (C.54:4-3.30) include provisions that allow the land on which the destroyed dwelling was situated to retain its tax-exempt status, provided that substantial construction begins within four years of the destruction. The bill defines a dwelling as "destroyed in significant part" if it is rendered unsafe, unsanitary, or uninhabitable due to such events.

The legislation also clarifies the eligibility of surviving spouses of disabled veterans, allowing them to claim the same tax exemptions as their deceased spouses under certain conditions. This measure is particularly relevant in light of the aftermath of Superstorm Sandy, which caused many disabled veterans to lose their tax exemptions while they worked to rebuild their homes. By ensuring that these veterans can maintain their tax-exempt status during the reconstruction process, the bill seeks to provide financial relief and support to those who have served in the military and are facing the challenges of recovery from natural disasters.

Statutes affected:
Introduced: 54:4-3.30