NJ S153

Veterans with 100% service-connected disability would receive property tax exemption retroactive to the effective date of their disability determination by the U.S. Department of Veterans' Affairs.

Municipalities would be required (changed from optional) to refund all property taxes collected from the veteran after their disability determination date.

The State of New Jersey would reimburse municipalities 102% of any property tax refunds granted to qualifying disabled veterans under this provision.

Municipal tax assessors must annually report to the Director of the Division of Taxation the amounts reimbursed to veterans during each tax year.

The exemption applies to veterans with total disability from conditions including paraplegia, total blindness, amputation of both arms/legs/hands/feet, or other 100% permanent service-connected disabilities.