Proposes constitutional amendment to increase veterans' property tax deduction to $1,000, and base future deductions on annual CPI increases.

ACR 27 proposes a constitutional amendment to increase New Jersey's veterans' property tax deduction from $250 to $1,000 annually, effective for tax year 2021. It would also tie future adjustments to annual Consumer Price Index (CPI) increases, ensuring the deduction grows with inflation while never decreasing. This change directly affects honorably discharged veterans, their surviving spouses, and veterans living in continuing care retirement communities. The amendment requires voter approval after legislative passage, as it modifies the state constitution. If approved, the deduction would automatically adjust yearly based on inflation without legislative action.