On August 5, 2019, New Jersey’s Acting Governor, Sheila Oliver, signed legislation providing support to more than 435,000 New Jersey Veterans. NJ S 1331 extends the eligibility for Veteran’s property tax deduction and exemption to residents of continuing care retirement communities. Surviving spouses are also entitled to the exemption if they are residents of a continuing care retirement community. The deduction will be provided to the continuing care retirement community, who will then credit or pay the amount of the deduction to each beneficiary residing in the facility within 30 days of receiving the property tax bill where the deduction appears. Eligibility includes any veteran who was honorably discharged from the military, legally domiciled within the State of New Jersey, and currently resides in a continuing care retirement community. Prior to the passage of this legislation, property tax benefits were only available to homeowners and renters.
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