NJ SCR104

Proposes amending the New Jersey Constitution to increase the veterans' property tax deduction from $250 to $500 over five years, with incremental increases of $50 annually starting in 2027.

The phased schedule sets the deduction at $300 in 2027, $350 in 2028, $400 in 2029, $450 in 2030, and $500 in 2031 and thereafter.

Applies to honorably discharged veterans, surviving spouses of veterans who died on active duty, and surviving spouses of honorably discharged veterans while they remain widowed and New Jersey residents.

Extends the deduction to veterans residing in continuing care retirement communities, requiring those facilities to pass the benefit to eligible residents within 30 days of receiving the tax bill.

The veterans' property tax deduction was last increased in 1999 when it rose from $50 to $250; if approved by voters, this amendment would require submission at the next general election occurring more than three months after legislative agreement.