New Jersey A273 requires the State to reimburse municipalities for the cost of disabled veterans' total property tax exemption.

New Jersey A273 mandates that the State reimburse municipalities for the cost of the total property tax exemption granted to disabled veterans. This reimbursement covers the actual taxes exempted and the administrative costs incurred by municipalities. The bill requires county boards of taxation to include the estimated amount of these exemptions in their annual table of aggregates. The State will cover 102 percent of the exemption amount for each taxing district.

New Jersey A273 requires the State to reimburse municipalities for the cost of disabled veterans' total property tax exemption.

New Jersey A273 mandates that the State reimburse municipalities for the cost of the total property tax exemption granted to disabled veterans. This reimbursement covers the actual taxes exempted and the administrative costs incurred by municipalities. The bill requires county boards of taxation to include the estimated amount of these exemptions in their annual table of aggregates. The State will cover 102 percent of the exemption amount for each taxing district.