TRENTON, NJ - A ballot question giving voters the chance to decide whether to extend a tax deduction for veterans living in Continuing Care Retirement Communities (CCRC) will be on the ballot when voters across New Jersey go to the polls on Tuesday.
Under New Jersey law, veterans living in the state who served in combat or other emergency situations are entitled to a $250 property tax deduction. This law, however, does not extend to those in the state living in the traditionally mulit-tiered communities that offer a mix of independent and assisted living options.
According to a fiscal analysis done by the Office of Legislative Services, (OLS) the non-partisan panel tasked with monitoring budget policies, approximately, 1,662 veterans in New Jersey reside in CCRCs and cannot access the property tax deduction.
The deduction, the ballot language says, shall be provided to a continuing care retirement community, which shall pass the value of the deduction on to the eligible veterans who live there.”
The cost to the state, should the measure pass, is estimated to be less than one million dollars annually, according to analysts. The state reimburses 102 percent of the value of the deduction to each municipality.