New Jersey S3966 requires the State to reimburse municipalities for the cost of disabled veterans' total property tax exemption and increases the.

New Jersey S3966 mandates that the State reimburse municipalities for the cost of disabled veterans' total property tax exemption. It also increases the amount of State reimbursement to municipalities for the amount of veterans' property tax deduction. Specifically, the State must reimburse each taxing district in an amount equal to 102.5 percent of the amount of any disabled veterans' total property tax exemptions and any $250 veterans’ property tax deduction permitted by that taxing district in the current tax year.

New Jersey S3966 requires the State to reimburse municipalities for the cost of disabled veterans' total property tax exemption and increases the.

New Jersey S3966 mandates that the State reimburse municipalities for the cost of disabled veterans' total property tax exemption. It also increases the amount of State reimbursement to municipalities for the amount of veterans' property tax deduction. Specifically, the State must reimburse each taxing district in an amount equal to 102.5 percent of the amount of any disabled veterans' total property tax exemptions and any $250 veterans’ property tax deduction permitted by that taxing district in the current tax year.