S.3966

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

New Jersey S3966 mandates the State to annually reimburse municipalities 102.5 percent of the amount of any disabled veterans' total property tax exemption and any $250 veterans’ property tax deduction permitted by the taxing district in the current tax year. The bill also requires tax assessors to certify the number of disabled veterans receiving the exemption and the total amount of such exemptions by June 1 each year.