Authorizes proportional property tax exemption for honorably discharged veterans having a service-connected disability and proclaims that the State shall reimburse municipalities for cost of exemptions.

This bill expands property tax exemptions for disabled veterans in New Jersey. It allows veterans with a service-connected disability of at least 30% to receive an exemption proportional to their disability rating, capped at $10,000. Veterans deemed unemployable due to a service-connected disability will receive a 100% exemption. The State will reimburse local taxing districts for these exemptions.

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