ASSEMBLY STATE AND LOCAL GOVERNMENT COMMITTEE

STATEMENT TO

ASSEMBLY, No. 941

STATE OF NEW JERSEY

DATED:  MARCH 20, 2025

      The Assembly State and Local Government Committee reports favorably Assembly Bill No. 941.

      This bill provides that the total property tax exemption extended to totally disabled veterans is to be retroactive to the effective date of the determination of the veteran's total disability by the United States Department of Veterans’ Affairs.  The bill also requires that the governing body of each municipality return all taxes collected on the veteran's property after the effective date of the determination of total disability by the United States Department of Veterans’ Affairs, and requires the State to reimburse municipalities for the amount of such property taxes returned to a totally disabled veteran pursuant to the requirements of the bill.