"Homestead School Property Tax Reimbursement Act"; provides State reimbursement for 50% of school property taxes paid by seniors, 65 years and older.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill, the "Homestead School Property Tax Reimbursement Act," aims to reduce property taxes for seniors aged 65 and older in New Jersey. It provides a state reimbursement of 50% of school property taxes paid by eligible residents, with income limits phasing in over three years. The bill also extends eligibility to surviving spouses aged 55 or older, provided they continue to reside in the same homestead.
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