Requires State reimbursement to municipalities of cost of disabled veterans' total property tax exemption.

New Jersey's A1050 requires the state to annually reimburse municipalities for the full cost of granting disabled veterans a total property tax exemption. The bill mandates that the state pay each municipality 102% of the tax revenue lost due to these exemptions (covering both the tax value and administrative costs), based on data certified by local tax assessors and county boards. This directly affects all New Jersey municipalities that currently absorb the financial impact of this state-mandated exemption, which currently forces some communities to raise other taxes or cut services. The bill shifts this financial burden from local governments to the state, addressing inequities where municipalities with more disabled veterans face disproportionate costs.