The proposed resolution seeks to amend the New Jersey Constitution to establish a property tax exemption for police officers and firefighters who sustain injuries in the line of duty that qualify them for an accidental disability pension. Specifically, the amendment would grant a 50 percent exemption on the assessed value of their primary residence, with a cap of $6,500 in the first year of the exemption, which would subsequently increase annually based on the Consumer Price Index. However, this exemption would not be available to those whose income exceeds $500,000 in the previous tax year.

Additionally, the resolution mandates that the State will reimburse municipalities for the total amount of property taxes that would have been collected on properties benefiting from this exemption. This reimbursement would extend to counties, school districts, and other local entities that levy property taxes, ensuring that they receive the equivalent amount that would have been due had the properties not been exempted. The proposed amendment will be presented to voters in the next general election following its final agreement, allowing the public to decide on its adoption.