The state Senate Community and Urban Affairs Committee advanced a concurrent resolution sponsored by Sens. Troy Singleton and Nilsa Cruz-Perez proposing a constitutional amendment to increase the amount of the veterans’ property tax deduction from $250 to $2,500 over the next four years.

The proposed constitutional amendment would increase the veterans’ property tax deduction from $250 to $1,000 in tax year 2025, $1,500 in tax year 2026, $2,000 in tax year 2027 and $2,500 in tax year 2028 and each year thereafter. When voters last approved such an increase in 1999, from $50 to $250, it was similarly phased in over a period of four years.

Singleton (D-Moorestown), the chair of the Senate Community and Urban Affairs Committee, said the time has come to address the issue.

“Our state’s constitution provides for a property tax deduction for honorably discharged veterans, a benefit made in recognition of their service and sacrifice for our country,” he said. “The last time voters approved an increase to the benefit was last century, in 1999. With increases to both property taxes and inflation, that benefit is no longer worth what it once was, and it is past time to reevaluate the amount to give veterans the recognition they deserve.”

Cruz-Perez (D-Camden), who served in the Army, agreed.

“All of our veterans deserve our gratitude, and an increase to the veterans’ property tax deduction will help to demonstrate that gratitude in more than just words,” she said. “The voters saw fit to instill such a deduction into our constitution, and I believe they will similarly see fit to increase the deduction to reflect the economic changes that have taken place over the last 25 years.”

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