TRENTON – The Senate Budget and Appropriations Committee advanced a bipartisan concurrent resolution sponsored by Senators Troy Singleton and Carmen Amato proposing a constitutional amendment to increase the amount of the veterans’ property tax deduction from $250 to $2,500 over the next four years. 

“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,” said Senator Singleton (D-Burlington). “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 re-evaluate the amount to give veterans the recognition they deserve.” 

The proposed constitutional amendment, SCR-96, would increase the veterans’ property tax deduction from $250 to $1,000 in tax year 2028, $1,500 in tax year 2029, $2,000 in tax year 2030, and $2,500 in tax year 2031 and every tax 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. 

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