SENATE MILITARY AND VETERANS' AFFAIRS COMMITTEE

STATEMENT TO

SENATE, No. 3084

STATE OF NEW JERSEY

DATED:  JUNE 13, 2024

      The Senate Military and Veterans' Affairs Committee reports favorably Senate Bill No. 3084.

      This bill allows veterans with a service-connected disability to receive a property tax rebate from the State in proportion to the percentage of their service-connected disability. The bill provides property tax relief to veterans who have a disability rating of less than 100 percent total and permanent disability. Veterans who have a disability rating of 100 percent total and permanent disability are already exempt from paying property taxes.

      Veterans with a service-connected disability are assigned a disability rating from the United States Department of Veterans Affairs. A disability rating may range from 0 percent to 100 percent. That rating will determine the percentage of property taxes paid that the veteran will be allowed as a rebate under this bill.

      Funding for the rebate allowed by this bill is dependent on annual appropriations by the Legislature. The bill caps the rebate at $5,000 and limits availability of the rebate to veterans with gross income of up to $200,000.