Proposed constitutional amendment to increase veterans' property tax deduction in New Jersey from $250 to $2,500 over four years.
This constitutional amendment proposes to increase the annual property tax deduction for qualified veterans and their surviving spouses in New Jersey. The current deduction amount is $250. The amendment would incrementally raise this amount to $1,000 in 2025, $1,500 in 2026, $2,000 in 2027, and $2,500 in 2028 and beyond. The increase would be phased in over four years. Veterans who are honorably discharged from active service in the United States Armed Forces qualify for the deduction. The surviving spouse of a qualified veteran would receive the deduction after the veteran's death.
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