NJ S87

Bill

Increases annual income limitation for senior and disabled citizens' eligibility for $250 property tax deduction and bases future annual income limitations on annual CPI changes.

Introduced
01/09/2024

In Committee
01/09/2024

Crossed Over

Passed

Dead
01/12/2026

Introduced Session

2024-2025 Regular Session

Bill Summary

This bill increases the annual income limit for seniors and disabled persons to be eligible for an annual property tax deduction. The income limit increase reflects an increase in cost of living. The income limit increase from $10,000 to $20,000 reflects actual inflation from 1983 to 2022, and the annual income limit change thereafter will reflect the actual cost of living change for the past year. The bill uses the Consumer Price Index to determine increases in years after 2023 to ensure that the income limits remain realistic. The bill takes effect immediately, but will remain inoperative until the voters approve a constitutional amendment authorizing an increase in the income limit from $10,000 to $20,000, and annual increases thereafter.

AI Summary

This bill increases the annual income limit for seniors and disabled persons to be eligible for an annual $250 property tax deduction. The income limit is raised from $10,000 to $20,000, reflecting actual inflation from 1983 to 2022. After 2023, the income limit will be adjusted annually based on changes in the Consumer Price Index to ensure the limit remains realistic. The bill will only take effect after voters approve a constitutional amendment authorizing the increase in the income limit.

Committee Categories

Health and Social Services

Sponsors (2)

Nilsa Cruz-Perez (D)*, Linda Greenstein (D)*,

Last Action

Introduced in the Senate, Referred to Senate Health, Human Services and Senior Citizens Committee (on 01/09/2024)

Official Document

https://www.njleg.state.nj.us/bill-search/2024/S87

(3 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.njleg.state.nj.us/bill-search/2024/S87
BillText	https://pub.njleg.gov/Bills/2024/S0500/87_I1.HTM

Bill	Bill Name	Last Action	Type
A2209	Increases annual income limitation for senior and disabled citizens' eligibility for $250 property tax deduction and bases future annual income limitations on annual CPI changes.	Reported and Referred to Assembly Appropriations Committee	Carry Over
A2778	Increases annual income limitation for senior and disabled citizens' eligibility for $250 property tax deduction and bases future annual income limitations on annual CPI changes.	Introduced, Referred to Assembly State and Local Government Committee	Same As
S1946	Increases annual income limitation for senior and disabled citizens' eligibility for $250 property tax deduction and bases future annual income limitations on annual CPI changes.	Introduced in the Senate, Referred to Senate Health, Human Services and Senior Citizens Committee	Carry Over

Bill > S87

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (2)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary