ASSEMBLY MILITARY AND VETERANS' AFFAIRS COMMITTEE

STATEMENT TO

ASSEMBLY, No. 3000

STATE OF NEW JERSEY

DATED:  JANUARY 23, 2025

      The Assembly Military and Veterans' Affairs Committee reports favorably Assembly Bill No. 3000.

      This bill would allow a veteran who becomes the owner of the legal title to a parcel of real property after October 1 of the pretax year to be eligible to receive the veteran’s property tax deduction on that parcel of real property for the tax year as long as the veteran was eligible to receive that property tax deduction on any other parcel of real property in the State prior to October 1 of the pretax year.  Under current law, a veteran must be the owner of the legal title to the property as to which a veteran's property tax deduction is claimed on October 1 of the pretax year in order to be eligible to receive that property tax deduction for the tax year beginning the next January 1st.  This bill would prevent a veteran from becoming ineligible for the veteran’s property tax deduction if the veteran moved into a new home after October 1.

      This bill was prefiled for introduction in the 2024-2025 session pending technical review.  As reported, the bill includes the changes required by technical review, which has been performed.