What is the maximum deduction amount available to veterans under the PTD program?

The maximum deduction amount available to veterans under the Property Tax Deduction (PTD) program is $250. This deduction is designed to provide financial relief to eligible veterans who own a home in New Jersey and apply for the deduction. The PTD program helps reduce the property tax burden for qualifying individuals, reflecting the state’s recognition of the sacrifices made by veterans in service to their country.

Understanding this deduction's parameters is essential for tax assessors, as it influences how property taxes are calculated for eligible properties. The amount of $250 serves as a specific figure set by the state, ensuring clarity and consistency in its application across eligible applicants. Other amounts mentioned in the options, such as $500, $100, and $1,000, do not correspond to the established limit set by the state legislation governing the PTD program, making $250 the correct figure to remember for this context.