New Jersey Assembly Bill A456

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24

Caption

Authorizes proportional property tax exemption for honorably discharged veterans having service-connected permanent disability; extends eligibility to veterans suffering from mental illness; establishes eligibility of property owned by disabled veteran with surviving partner for exemption.

Impact

The proposed changes in A456 are expected to significantly broaden the scope of eligibility for tax exemptions, making it more inclusive for veterans who have mental health disabilities alongside those with physical disabilities. This could ease the financial burden on a larger number of service members and their families, ultimately promoting their stability and wellbeing in civilian life. Additionally, the bill allows surviving partners of disabled veterans, whether through civil unions or domestic partnerships, to claim the same property tax exemptions, thus highlighting a commitment to support families of veterans.

Summary

Assembly Bill A456 proposes amendments to the existing property tax exemption laws for honorably discharged veterans with service-connected permanent disabilities in New Jersey. The bill aims to provide a proportional property tax exemption based on the severity of a veteran's service-related disability, extending eligibility to veterans with mental health issues. Currently, only veterans classified as 100% disabled are fully exempt from property taxes. Under A456, all veterans with disabilities will receive exemptions proportional to their disability rating as determined by the U.S. Department of Veterans Affairs.

Contention

One point of contention regarding A456 may revolve around the fiscal implications of expanding the tax exemptions for veterans and their families. While supporters advocate that the bill will help many deserving veterans, skeptics may argue about the potential impact on local government revenues. Furthermore, the definition of mental illness within the context of granting these exemptions could raise discussions regarding eligibility standards and the administrative burden placed on municipalities to implement these changes.