NJ A4111

Excludes disability compensation paid by the U.S. Department of Veterans Affairs from income calculations when determining eligibility for New Jersey's homestead property tax reimbursement program.

Applies to veterans who received honorable discharges from active service during wartime and receive VA disability payments for service-connected injuries or diseases.

The homestead property tax reimbursement program reimburses eligible senior citizens (65+) and disabled persons for property tax increases above their "base year" amount.

Current income eligibility limits for the program are $150,000 or less as of tax year 2022, subject to annual adjustments.

Takes effect immediately upon enactment.