ASSEMBLY MILITARY AND VETERANS' AFFAIRS COMMITTEE

STATEMENT TO

ASSEMBLY RESOLUTION No. 165

STATE OF NEW JERSEY

DATED:  OCTOBER 21, 2024

      The Assembly Military and Veterans' Affairs Committee reports favorably Assembly Resolution No. 165.

This resolution urges the President and Congress of the United States to enact federal legislation to provide proportional property tax relief for honorably discharged veterans having a service-connected permanent disability.

     The United States of America and the State of New Jersey are forever grateful to the men and women who serve in the Armed Forces of the United States and who sacrifice their lives to protect the freedoms enjoyed by all citizens of this nation.  However, in the course of their selfless sacrifice for this nation, many veterans unfortunately experience permanent disabilities that can limit their ability to support themselves and their families.

     In recognition of the sacrifice and service of these veterans, it is the responsibility of the federal government to ensure that veterans with service-connected disabilities receive the benefits necessary to enjoy a stable quality of life, without the fear of suffering catastrophic financial hardship. 

     While the State of New Jersey currently provides crucial tax relief to these veterans in the form of a total property tax exemption for veterans with 100 percent service-connected disabilities, this assistance is unfortunately unavailable to veterans who live with similar disabilities in other states.  To ensure that all veterans throughout the country receive property tax relief commensurate with the severity of their disabilities, there is an urgent need for the federal government to enact legislation to provide proportional property tax relief for honorably discharged veterans having a service-connected permanent disability.

The provision of proportional property tax relief would entitle veterans with a service-connected disability to an annual property tax benefit based on a designated percentage of the property taxes paid by the veteran, as determined by the veteran’s disability rating assigned by the United States Department of Veterans Affairs.  However, to ensure that these benefits target the veterans most in need of assistance, this proportional property tax relief should be limited to those veterans with annual income up to $200,000, and the federal benefits should only be provided for the principal residences of eligible veterans.  In providing this proportional property tax relief, the federal government would honor its duty and obligation to support the selfless men and women who sacrificed their well-being for the betterment of this great nation.