Trenton – Two pieces of legislation sponsored by Senate Military and Veterans’ Affairs Committee Chair Senator Vin Gopal and Senator Fred H. Madden, which would extend the veterans’ property tax deduction for veterans in continuing care retirement communities, cleared the Senate today.
“The veterans’ property tax deduction is one of the many small ways that New Jersey acknowledges our veterans for the sacrifices they have made for our country and our state,” said Senator Gopal (D-Monmouth). “However, this deduction currently only applies to homeowners, and many of our elderly veterans live in retirement communities where they don’t own their living space, but nonetheless have extensive housing expenses. This legislation is a simple and common-sense extension to make the tax deduction apply to all veterans equally. It’s the right thing to do.”
The bills, S-1331 & SCR-110, would extend the $250 property tax deduction and total property tax exemption currently granted to honorably discharged veterans and their surviving spouses to those living in continuing care retirement communities. Current law excludes these parties because they do not own the units in which they reside.
Currently veterans’ property tax deductions are allocated within the constitution, therefore, to extend it to continuing care retirement communities it requires the constitutional amendment. SCR-110 is the constitutional amendment that would allow S-1331 to take effect and must be approved by the general public.
“This legislation is an extension of our state’s appreciation for our veterans,” said Senator Madden (D-Camden/Gloucester). “These folks, whether they own their home or not, risked their lives for this country and while $250 may not seem like a large sum, when someone is in a retirement community, often living on a fixed income, every dollar counts.”
SCR-110 was released from the Senate by a vote of 38-0 and next moves to the Assembly for consideration. If passed in the Assembly, the amendment will be considered by the public in the next general election.
S-1331 was released from the Senate by a vote of 38-0.