NJ SCR96

Proposes a constitutional amendment to increase the annual property tax deduction for honorably discharged veterans from $250 to $2,500, phased in over four years ($1,000 in 2025, $1,500 in 2026, $2,000 in 2027, $2,500 in 2028 and thereafter).

Surviving spouses of qualified veterans would also receive the increased property tax deduction during widowhood while remaining New Jersey residents.

If a veteran's property tax bill is less than the deduction amount for that year, the entire tax bill would be cancelled.

Residents of continuing care retirement communities who are eligible veterans would receive the deduction as a payment or credit from the facility within 30 days of the property tax bill.

The amendment requires voter approval at a general election and would be the first increase since 1999, when voters approved raising the deduction from $50 to $250.