New Jersey bill A4649 mandates state reimbursement to municipalities for disabled veterans' total property tax exemption and increases reimbursement.

New Jersey bill A4649 requires the state to annually reimburse municipalities for the cost of disabled veterans' total property tax exemption and increases the amount of state reimbursement for the veterans’ property tax deduction. Specifically, the state will reimburse each taxing district 102.5 percent of the amount of any disabled veterans' total property tax exemptions and deductions permitted in the current tax year.

New Jersey bill A4649 mandates state reimbursement to municipalities for disabled veterans' total property tax exemption and increases reimbursement.

New Jersey bill A4649 requires the state to annually reimburse municipalities for the cost of disabled veterans' total property tax exemption and increases the amount of state reimbursement for the veterans’ property tax deduction. Specifically, the state will reimburse each taxing district 102.5 percent of the amount of any disabled veterans' total property tax exemptions and deductions permitted in the current tax year.