N. J. Bill would ease home loan process for disabled veterans by fixing property tax calculation — A closeup of New Jersey's State House dome and top of State House

TRENTON, N.J. — A newly introduced bill in the New Jersey State Assembly aims to eliminate a financial barrier for 100% disabled veterans by correcting how property taxes are calculated in mortgage applications.

Key Points

Assembly Bill A5414 would exempt 100% disabled veterans from property tax calculations during mortgage processing
Veterans are already entitled to full property tax exemptions in New Jersey
Current loan calculations can block mortgage approvals despite legal tax exemption

Assembly Bill A5414 targets a loan obstacle

Assembly Bill A5414 proposes a fix to a long-standing administrative issue affecting disabled veterans seeking home loans. Although New Jersey provides a full property tax exemption to veterans who are rated 100% disabled by the U.S. Department of Veterans Affairs, state banks are currently still required to factor in property taxes during mortgage underwriting.

This requirement can artificially inflate loan costs, making it harder for qualified veterans to receive mortgage approval.

Exemption would be recognized in loan process

If passed, the legislation would authorize banks operating in New Jersey to exclude property taxes from loan calculations for eligible disabled veterans. Supporters say this technical adjustment would align the lending process with state tax policy and reflect veterans’ legal exemptions from the outset of the mortgage process.

The bill is currently awaiting sponsorship in the state legislature, and advocates are encouraging residents to contact their local representatives to back the measure.

Support builds for legislative change

Veteran advocates and constituents are rallying around A5414, stating the bill is a critical step toward equitable homeownership access for those who served.

“This simple change could save veterans thousands of dollars and make homeownership more accessible for those who’ve sacrificed so much for our country,” said one supporter.

New Jersey residents can view the bill text and find their local legislators via the New Jersey Legislative Roster.

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