Permits veteran's property tax deduction for tax year when veteran was previously qualified to receive deduction and became owner of real property after October 1 of pretax year.

S 4089 allows New Jersey veterans to qualify for the property tax deduction on a new home even if they purchased it after October 1 but before December 31 of the pretax year, provided they were previously eligible for the deduction on another property before that October 1. The bill amends existing law (P.L.1963, c.171) to remove the requirement that veterans must own property by October 1 to claim the deduction for the following tax year. This specifically helps veterans who move into a new home after October 1 but before year-end, preventing them from losing eligibility due to timing. The change applies only to veterans who were already qualified for the deduction on a prior property.