Bill > A1382

Introduced Session

This bill would create a new, additional homestead property tax reimbursement benefit based on the school portion of a senior homeowner's property taxes. Under the bill, a senior who has owned a homestead in the State and used it as a principal residence for at least 15 consecutive years would be eligible, regardless of income, to receive a reimbursement for a percentage of the property taxes paid for school district purposes. An eligible senior meeting the residency requirement may receive this benefit if they do not qualify for the current homestead property tax reimbursement, and may receive it in addition to the current homestead property tax reimbursement if they qualify for both. This bill would enable some seniors to newly receive homestead property tax reimbursement benefits, and enable some others to receive enhanced benefits. The amount an eligible senior could receive under the new benefit created by this bill would be based on the following schedule: (1) an eligible senior who is 65 or more years of age, but less than 70 years of age, would be entitled to a reimbursement equal to 25 percent of the property taxes owed for school district purposes; (2) an eligible senior who is 70 or more years of age, but less than 75 years of age, would be entitled to a reimbursement equal to 30 percent of the property taxes owed for school district purposes; (3) an eligible senior who is 75 or more years of age, but less than 80 years of age, would be entitled to a reimbursement equal to 35 percent of the property taxes owed for school district purposes; (4) an eligible senior who is 80 or more years of age, but less than 85 years of age, would be entitled to a reimbursement equal to 40 percent of the property taxes owed for school district purposes; (5) an eligible senior who is 85 or more years of age, but less than 90 years of age, would be entitled to a reimbursement equal to 45 percent of the property taxes owed for school district purposes; (6) an eligible claimant who is 90 or more years of age, but less than 95 years of age, would be entitled to a reimbursement equal to 50 percent of the property taxes owed for school district purposes; (7) an eligible senior who is 95 or more years of age, but less than 100 years of age, would be entitled to a reimbursement equal to 55 percent of the property taxes owed for school district purposes; (8) an eligible senior who is 100 or more years of age would be entitled to a reimbursement equal to 100 percent of the property taxes owed for school district purposes.

AI Summary

Committee Categories

Jamel Holley (D)*,  Angela Mcknight (D)*, 

Introduced, Referred to Assembly State and Local Government Committee (on 01/14/2020)