Proposed constitutional amendment to increase veterans' property tax deduction to $500 by 2027.

This bill proposes a constitutional amendment to increase the annual property tax deduction for veterans in New Jersey. The deduction would rise from the current $250 to $300 in 2023, $350 in 2024, $400 in 2025, $450 in 2026, and $500 in 2027 and each year thereafter. The amendment would also allow continuing care retirement communities to receive a veterans' property tax deduction on behalf of eligible veterans. If approved by voters, this amendment would provide greater financial relief to veterans and their families.

Proposed constitutional amendment to increase veterans' property tax deduction to $500 by 2027.

This bill proposes a constitutional amendment to increase the annual property tax deduction for veterans in New Jersey. The deduction would rise from the current $250 to $300 in 2023, $350 in 2024, $400 in 2025, $450 in 2026, and $500 in 2027 and each year thereafter. The amendment would also allow continuing care retirement communities to receive a veterans' property tax deduction on behalf of eligible veterans. If approved by voters, this amendment would provide greater financial relief to veterans and their families.