NJ SCR84

Proposes amending Article VIII, Section I, paragraph 3 of the New Jersey Constitution to require the State to annually reimburse municipalities for property tax revenue lost from the 100% exemption provided to veterans with permanent, total service-connected disabilities.

Reimbursement amounts would equal the full property taxes that would have been owed on each exempt property if it were taxed like other properties in the municipality.

Municipalities would be required to pass through reimbursements to counties, school districts, and other local taxing entities based on what each would have received from the exempt properties.

Addresses current situation where tax exemptions shift the burden onto non-exempt property owners, potentially raising their taxes, since municipalities currently receive no State reimbursement for these exemptions.

If approved by the Legislature, the amendment would be placed on a general election ballot for voter approval, with publication requirements at least three months before the election.