S.1053

New Jersey S1053 authorizes a proportional property tax exemption for honorably discharged veterans with a service-connected disability and mandates.

New Jersey S1053 provides a proportional property tax exemption for honorably discharged veterans with a service-connected disability, based on their disability percentage rating. Veterans with a disability rating of at least 30 percent are eligible for a proportional exemption, capped at $10,000. Those with a 100 percent disability rating continue to receive a full 100 percent exemption without a cap. The bill also extends the exemption to the surviving spouse of a veteran who died in active service or with a 100 percent disability.