Increases income eligibility limit for homestead property tax reimbursement program.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill increases the income eligibility limits for the New Jersey Homestead Property Tax Reimbursement Program, also known as the senior and disabled citizens' property tax freeze program. Starting in tax year 2017, the income limits for single claimants will rise to $160,000 and for married couples to $160,000, allowing more eligible homeowners to receive property tax relief. The program provides reimbursement for increases in property taxes above the base year liability for qualifying senior and disabled homeowners. This change aims to provide greater financial assistance to homeowners who meet the program’s criteria.
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