TRENTON – Senator Jim Whelan yesterday introduced legislation designed to close a loophole under current law that prohibits eligible veterans who purchase a new home after October 1 from receiving the veteran’s property tax deduction for which they are entitled on their new home.
“This is a matter of fairness for veterans, who shouldn’t lose out on property tax relief over a simple matter of timing,” said Senator Whelan, D-Atlantic. “When the veteran’s property tax deduction law was written in the 1960s, it may have taken a little more time to process home purchases in the system. In today’s electronic age, there is simply no reason to have a black-out period from October 1 to December 31, and we ought to change the law to allow people to collect the property tax relief they’re entitled to as a result of their service to this nation.”