Brown moves to extend exemption for realty transfer tax to surviving spouses of disabled veterans

WASHINGTON, D.C. – September 20, 2013 – (RealEstateRama) — Legislation to be introduced by Senator Dawn Marie Addiego and Assemblyman Chris Brown acknowledges the sacrifices of the surviving spouses of certain 100 percent disabled Veterans by extending to them the realty transfer fee exemption.

“We owe enormous gratitude to our warriors who are disabled in active service during times of war, and we can’t forget their spouses, who also share the burden and sacrifice,” said Senator Dawn Marie Addiego.

For more than 60 years, New Jersey has exempted from property taxes certain qualifying veterans with service-related disability, and this courtesy was extended to the surviving spouse who remained in widowhood as long as she, or he, remained a resident of New Jersey.

Senator Addiego and Assemblyman Brown’s bill follows the same logic to allow surviving spouses to claim the same exemption of portions of the realty transfer fee that are available to New Jersey’s senior citizens and disabled residents.

“We have a constituent whose husband had become 100 percent disabled in Vietnam. He passed away from lung cancer due to exposure to Agent Orange,” said Assemblyman Brown. “She could no longer care for the home they shared, and in the process of selling, she learned that she no longer qualified for the exemption she would have gotten if her husband were still alive.”

The savings could range from $500 to $2,000, depending on the selling price of the home.

“In many cases, the surviving spouse is facing financial burdens, and may be forced to give up the family home. Relieving them of this hidden tax is one final way we can say ‘thank you’ for your sacrifices,” said Assemblyman Brown.