Continues tax exempt status of certain real property owned by disabled veterans during reconstruction of homes destroyed by flood, storm, or other act of God.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to maintain the tax-exempt status for real property owned by disabled veterans in New Jersey during the reconstruction of homes damaged by floods, storms, or other natural disasters. Specifically, it extends the tax exemption for the land where a destroyed home was located for up to four years if substantial rebuilding occurs. The bill also addresses the tax exemption for surviving spouses of deceased veterans, ensuring they retain the same benefits.
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