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

This bill requires New Jersey to reimburse local municipalities 102% of the property tax costs they incur when granting total property tax exemptions to disabled veterans. It directly affects municipalities that provide these exemptions under existing law (P.L.1948, c.259), which currently absorb the cost of the exemption. Key provisions include annual certifications by tax assessors (by June 1) and county boards (by June 15) detailing the number and dollar amount of exemptions granted, with the state using this data to calculate reimbursements. The bill also amends tax reporting rules to separately track these exemptions in county tax tables without including them in the taxable property base. This ensures municipalities aren’t financially burdened by the exemption program while maintaining transparency in tax administration.