New Jersey A1150 provides a proportional property tax exemption for honorably discharged veterans with service-connected disabilities.

New Jersey A1150 amends the property tax exemption law to provide a proportional property tax exemption for honorably discharged veterans with service-connected disabilities. The exemption is based on the veteran's disability percentage rating, with a cap of $15,000 for those with less than a 100 percent disability. Veterans with a 100 percent disability rating are exempt from taxation without a cap. The bill also extends the exemption to the surviving spouse of a veteran who died in active service or was declared unemployable due to a service-connected disability.

New Jersey A1150 provides a proportional property tax exemption for honorably discharged veterans with service-connected disabilities.

New Jersey A1150 amends the property tax exemption law to provide a proportional property tax exemption for honorably discharged veterans with service-connected disabilities. The exemption is based on the veteran's disability percentage rating, with a cap of $15,000 for those with less than a 100 percent disability. Veterans with a 100 percent disability rating are exempt from taxation without a cap. The bill also extends the exemption to the surviving spouse of a veteran who died in active service or was declared unemployable due to a service-connected disability.