Proposed constitutional amendment to increase veterans' property tax deduction to $500 over five years.
This bill proposes a constitutional amendment to increase the annual property tax deduction for veterans in New Jersey from $250 to $500 over five years. The deduction will rise to $300 in 2023, $350 in 2024, $400 in 2025, $450 in 2026, and $500 in 2027 and each year thereafter. If approved by voters, the amendment will be submitted at the next general election. The deduction will not apply to veterans residing in property tax-exempt continuing care retirement communities.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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