Budget & Taxes (Tax Incentives) in New Jersey

in committee · New Jersey · General Assembly May 7, 2026

A 4963: Authorizes Secretary of Agriculture to declare agricultural emergency; establishes sales tax holiday on sale of fertilizer during agricultural emergency.

This bill authorizes New Jersey's Secretary of Agriculture to declare an agricultural emergency for up to six months if events like rising fertilizer costs impact farming. During such an emergency, the state would temporarily suspend sales taxes on the retail purchase of fertilizer to help reduce costs for farmers and gardeners. The Secretary has the power to set the specific criteria for declaring an emergency, limit the relief to certain areas of the state, and end the emergency when conditions improve. Additionally, the bill allows tax officials to create necessary rules quickly to implement this tax break while staying compliant with federal agreements.

Topics ✓ Budget & Taxes

Sub-Topics Sales Tax Tax Incentives

in committee · New Jersey · General Assembly May 4, 2026

ACR 143: Proposes constitutional amendment to provide property tax exemption for primary residence of police officer, firefighter, or emergency medical technician who suffers line of duty injury.

This bill proposes a constitutional amendment to grant a 100 percent property tax exemption on the primary residence of police officers, firefighters, and emergency medical technicians who suffer injuries in the line of duty. The measure specifically targets first responders who qualify for an accidental disability pension, ensuring they do not pay any property taxes on their homes. If approved by voters, the amendment would require the state Legislature to pass a law implementing this tax relief. The bill does not take effect immediately but must be voted on by the public at a future general election.

Topics ✓ Budget & Taxes ✓ Healthcare

Sub-Topics Pensions Property Tax Tax Incentives

in committee · New Jersey · General Assembly Mar 10, 2026

A 4649: Requires State reimbursement to municipalities of cost of disabled veterans' total property tax exemption; increases amount of State reimbursement to municipalities for amount of veterans' property tax deduction.

This bill requires the New Jersey State to reimburse municipalities for the costs associated with disabled veterans' total property tax exemptions and increases the reimbursement rate for veterans' property tax deductions. It mandates that tax assessors certify the number and total value of these exemptions to county boards annually, ensuring local governments receive state funding to offset the lost tax revenue. The legislation also updates administrative procedures for reporting and calculating these exemptions within the county taxation system. Directly affected parties include disabled veterans who benefit from property tax relief and local municipalities that receive financial compensation for providing these exemptions.

Topics ✓ Budget & Taxes ✓ Veterans

Sub-Topics Property Tax Revenue Tax Incentives

in committee · New Jersey · Senate Mar 19, 2026

SCR 129: Proposes constitutional amendment authorizing municipalities, by ordinance, to provide partial property tax exemption on primary residence of certain volunteer first responders.

This bill proposes a constitutional amendment that would allow New Jersey municipalities to offer partial property tax exemptions on the homes of volunteer first responders. The measure directly affects active members of volunteer fire departments, first aid squads, or rescue teams who serve their local communities. Under this proposal, eligible volunteers could receive a property tax exemption of up to 10 percent of their home's assessed value, with the specific amount determined by each municipality through local ordinances. The bill clarifies that the state would not be required to reimburse towns for the lost tax revenue from these exemptions.

Topics ✓ Budget & Taxes

Sub-Topics Property Tax Revenue Tax Incentives

in committee · New Jersey · General Assembly Mar 16, 2026

ACR 137: Proposes constitutional amendment to extend eligibility for veterans' property tax deduction and disabled veterans' property tax exemption to certain veterans released under other than honorable circumstances.

This bill proposes a constitutional amendment to New Jersey that would allow veterans released from military service under conditions other than honorable to qualify for state property tax deductions and exemptions. The change would expand eligibility for the $250 annual property tax deduction and the disabled veterans' property tax exemption to include veterans who were discharged under other than honorable circumstances, provided they meet other residency and service requirements. The amendment also includes provisions for surviving spouses of veterans and establishes how the deduction applies to residents of continuing care retirement communities. If passed, this change would modify the state constitution to broaden the definition of eligible veterans for tax benefits without altering the existing benefits for those with honorable discharges.

Topics ✓ Budget & Taxes ✓ Veterans

Sub-Topics Property Tax Tax Incentives

in committee · New Jersey · General Assembly Mar 16, 2026

A 4690: Extends eligibility for veterans' property tax deduction and disabled veterans' property tax exemption to certain veterans released under other than honorable circumstances.

This bill expands property tax benefits in New Jersey to include veterans who were discharged under other than honorable circumstances, provided they have a service-connected disability. It amends existing laws to allow these veterans to qualify for property tax deductions and exemptions that were previously limited to those with honorable discharges. The key provision removes the requirement for an honorable discharge status while maintaining the disability requirements, ensuring that veterans with qualifying injuries can access financial relief on their primary residences. The legislation also extends these benefits to surviving spouses of eligible veterans who died while serving.

Topics ✓ Budget & Taxes ✓ Veterans

Sub-Topics Property Tax Tax Incentives Veteran Benefits Veteran Healthcare

in committee · New Jersey · General Assembly Mar 19, 2026

A 4787: "Atlantic City Urban Enterprise Zone and Property Tax Relief Act"; creates urban enterprise zone in Atlantic City for 10 years.

This bill creates a 10-year urban enterprise zone in Atlantic City to encourage economic development and business investment in the area. It defines specific criteria for businesses to qualify for the zone, requiring them to hire employees who are local residents, unemployed for at least six months, or classified as low-income individuals. The legislation also establishes rules for businesses operating on casino property, allowing them to qualify if they meet the employment requirements, while excluding casinos themselves from qualified business status. By amending existing state statutes, the bill provides a framework for tax relief and development incentives aimed at supporting local employment and community growth in Atlantic City.

Topics ✓ Budget & Taxes

Sub-Topics Property Tax Tax Incentives Tags Economic Development

in committee · New Jersey · Senate Mar 10, 2026

S 3857: Allows 50 percent sales and use tax exemption for telephone, mail-order, and internet transactions by qualified businesses within Urban Enterprise Zone; allows quarterly tax returns for qualified businesses; increases allowable administrative expenses by qualified municipalities.

This bill allows businesses operating within New Jersey's Urban Enterprise Zones to receive a 50 percent sales and use tax exemption on telephone, mail-order, and internet transactions. It also permits these qualified businesses to file quarterly tax returns instead of monthly ones and increases the allowable administrative expenses that municipalities can claim for managing the zones. The legislation defines a "qualified business" as one that employs at least 25 percent of its full-time staff in the zone, with employees who are local residents, unemployed New Jersey residents, or low-income individuals.

Topics ✓ Budget & Taxes

Sub-Topics Sales Tax Tax Incentives Tags Economic Development

in committee · New Jersey · Senate Mar 19, 2026

S 3966: Requires State reimbursement to municipalities of cost of disabled veterans' total property tax exemption; increases amount of State reimbursement to municipalities for amount of veterans' property tax deduction.

This bill requires the State of New Jersey to reimburse local municipalities for the cost of property tax exemptions granted to disabled veterans, and it increases the reimbursement rate for existing veterans' property tax deductions. Under the new provisions, the State will cover 102.5 percent of the total amount of disabled veterans' property tax exemptions and 102.5 percent of the veterans' property tax deductions claimed by taxpayers in each tax year. The legislation also establishes a certification process where tax assessors and county boards must report the number and dollar value of these exemptions to the State by specific deadlines each year. These changes directly affect local taxing districts, which will receive additional state funding to offset the revenue lost from these tax breaks, while disabled veterans continue to benefit from their existing property tax relief programs.

Topics ✓ Budget & Taxes ✓ Veterans

Sub-Topics Property Tax Tax Incentives

in committee · New Jersey · General Assembly Mar 19, 2026

A 4785: Requires installation of emergency power supply systems to certain common areas of new planned real estate developments; provides related tax incentives.

This bill requires new planned real estate developments in New Jersey to install emergency power supply systems in common areas like clubhouses and community rooms, ensuring these spaces can serve as shelters during extended power outages. Developers must meet specific performance standards for the power systems, and the state will update its construction code to enforce these requirements while also mandating public charging stations for residents' electronic devices. To offset the added cost, the bill offers a tax incentive allowing developers to deduct up to $10,000 of the system's expense as an annual deduction rather than a capital investment. The legislation directly affects real estate developers and homeowners in planned communities by establishing new infrastructure standards and providing financial relief for compliance.

Topics ✓ Budget & Taxes ✓ Energy ✓ Housing

Sub-Topics Tax Incentives

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