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NJ S1331
NJ S1331Increases annual property tax deduction for senior citizens and disabled persons from $250 to $500.
summary
Introduced
02/10/2020
02/10/2020
In Committee
02/10/2020
02/10/2020
Crossed Over
Passed
Dead
01/11/2022
01/11/2022
Introduced Session
2020-2021 Regular Session
Bill Summary
This bill would increase the amount of the annual property tax deduction provided to eligible senior citizens and disabled persons from the current $250 to $300.00 in tax year 2021, $350.00 in tax year 2022, $400.00 in tax year 2023, $450.00 in tax year 2024, and $500.00 in tax year 2025 and in each tax year thereafter. The amount of this annual property tax deduction has not been increased since 1983. The provisions of the bill will remain inoperative until the approval by the voters of the State of a constitutional amendment authorizing this increased property tax deduction for senior citizens and disabled persons.
AI Summary
This bill would increase the annual property tax deduction for eligible senior citizens and disabled persons from the current $250 to $500 over a 5-year period. Specifically, the deduction would increase to $300 in 2021, $350 in 2022, $400 in 2023, $450 in 2024, and $500 in 2025 and each year thereafter. The provisions of the bill will remain inoperative until New Jersey voters approve a constitutional amendment authorizing the increased property tax deduction.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Senate Community and Urban Affairs Hearing (19:00 11/15/2021 The State House Annex has reopened to the general public. Indivi) (on 11/15/2021)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.njleg.state.nj.us/2020/Bills/S1500/1331_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2020/Bills/S1500/1331_I1.PDF |
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