February 23,2017
the staff of the Ridgewood blog
DANCER BILL HELPS VETERANS RETAIN PROPERTY TAX DEDUCTION
TRENTON NJ, Assemblyman Ron Dancer introduced legislation protecting property tax deductions for veterans. The bill (A4635) allows the deduction to be kept even if the home is placed in trust.
“Veterans who have earned their property tax deduction should retain that benefit as long as they occupy the home,” said Dancer (R—Ocean). “Veterans who protected our nation should also be able to protect their family and assets with sensible estate planning. As long as they continue to live in the home as a primary residence, they should be able to protect it in a trust without losing their deduction.”
Qualifying veterans can apply for an annual $250 property tax deduction for service to the country.