New Jersey Senate Bill S313

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24

Caption

Makes total property tax exemption for 100% disabled veterans retroactive to effective date of determination of total disability; requires State to reimburse municipalities for reimbursement of property taxes paid to veteran.

Impact

The implementation of this bill would necessitate that municipalities return all property taxes collected from eligible veterans after the effective date of their total disability determination. Furthermore, the bill compels the state to reimburse these municipalities for the returned property taxes. This system of reimbursement ensures that municipalities are not financially disadvantaged by upholding this law while providing crucial support to disabled veterans and their families.

Summary

Senate Bill S313 proposes important amendments to the existing law regarding property tax exemptions for disabled veterans in New Jersey. The bill seeks to provide a total property tax exemption for veterans classified as 100% disabled by the United States Department of Veterans' Affairs, making the exemption retroactive to the date of their determination of total disability. This retroactive clause aims to alleviate any financial burden that disabled veterans may have faced since the establishment of their disability status.

Contention

While the bill is framed as a significant enhancement to benefits for disabled veterans, notable points of contention could arise regarding the fiscal implications for local governments. Critics might argue that requiring municipalities to issue refunds and seek reimbursement could strain their budgets, especially in economically challenged areas. Additionally, questions could be raised about ensuring that the system is efficiently administered to prevent delays or potential disputes in the claims process for veterans seeking these exemptions.