Requires State reimbursement to municipalities of cost of disabled veterans' total property tax exemption.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill requires the state of New Jersey to reimburse municipalities for the costs associated with providing a total property tax exemption to disabled veterans. It mandates that the state cover the lost tax revenue due to these exemptions, as well as the administrative costs incurred by local governments. The bill also establishes reporting requirements for municipalities to certify the number of exemptions and the total amount of tax savings. Finally, it grants the state’s tax director the authority to inspect records related to these exemptions.
Bill text
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Document of record
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Sponsors
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2 on record
Primary sponsors
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