The proposed resolution seeks to amend the New Jersey Constitution to increase the annual property tax deduction for veterans from $250 to $1,250, effective in 2024. This amendment would benefit any citizen and resident of New Jersey who has been honorably discharged from active military service, allowing them to receive a deduction from their property tax bills. Additionally, the resolution includes provisions for surviving spouses of veterans, ensuring they also receive the same tax benefits during their widowhood or widowerhood.

The resolution outlines the process for submitting this proposed amendment to the voters, which will occur at the next general election following its final agreement. It emphasizes that the last increase in the veterans' property tax deduction was approved by voters in 1999, and the amount has remained at $250 since 2003. If the amendment is approved, it will provide significant financial relief to veterans and their families in New Jersey.