Proposes constitutional amendment to increase to $500 veterans' property tax deduction.

ACR 62 proposes a constitutional amendment to increase New Jersey's veterans' property tax deduction from $250 to $500 annually, phased over five years (reaching $500 by 2027). It directly affects honorably discharged veterans, their surviving spouses, and veterans living in continuing care retirement communities. The amendment would raise the deduction to $300 in 2023, $350 in 2024, $400 in 2025, $450 in 2026, and $500 starting in 2027, with the deduction canceling taxes if the bill is lower than the deduction amount. This change requires voter approval after legislative passage, as it modifies the state constitution.