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NJ A941
Bill
Status
1/9/2024
Primary Sponsor
Roy Freiman
Click for details
AI Summary
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Makes the total property tax exemption for 100% permanently disabled veterans retroactive to the effective date when the U.S. Department of Veterans' Affairs determined their total disability
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Requires municipalities to refund all property taxes collected from eligible veterans after the effective date of their disability determination, changing this from optional ("may") to mandatory ("shall")
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Tax assessors must annually report to the Director of the Division of Taxation any amounts reimbursed to veterans under this provision
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State will reimburse municipalities 102% of the amount of any veterans' property tax reimbursements granted, covering the refund plus administrative costs
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Applies to veterans with service-connected disabilities including paraplegia, total blindness, amputation of both limbs, and other conditions rated as 100% permanent disability by the VA
Legislative Description
Makes total property tax exemption for 100% disabled veterans retroactive to effective date of determination of total disability; requires State to reimburse municipalities for reimbursement of property taxes paid to veteran.
Appropriations
Last Action
Reported and Referred to Assembly Appropriations Committee
3/20/2025