NJ S1534

Bill

NJ S1534

Increases annual property tax deduction for senior citizens and disabled persons from $250 to $500.

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 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 2023, $350.00 in tax year 2024, $400.00 in tax year 2025, $450.00 in tax year 2026, and $500.00 in tax year 2027 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 proposes to gradually increase the annual property tax deduction for eligible senior citizens and disabled persons, who meet certain income limitations and residency requirements, from the current $250 to $500 by the year 2027. Specifically, the deduction will rise to $300 for tax year 2023, $350 for 2024, $400 for 2025, $450 for 2026, and finally $500 for 2027 and all subsequent tax years. This increase is significant as the current deduction amount has not been updated since 1983. However, these changes will only become effective after voters approve a constitutional amendment authorizing this enhanced property tax deduction.

Committee Categories

Housing and Urban Affairs

Sponsors (3)

Shirley Turner (D)*, Carmen Amato (R), Patrick Diegnan (D),

Last Action

Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 01/09/2024)

Official Document

https://www.njleg.state.nj.us/bill-search/2024/S1534

(3 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.njleg.state.nj.us/bill-search/2024/S1534
BillText	https://pub.njleg.gov/Bills/2026/S2000/1534_I1.HTM
BillText	https://pub.njleg.gov/Bills/2024/S2000/1534_I1.HTM

Bill	Bill Name	Last Action	Type
A2734	Increases annual property tax deduction for senior citizens and disabled persons from $250 to $500.	Introduced, Referred to Assembly Commerce, Economic Development and Agriculture Committee	Same As
A3370	Increases annual property tax deduction for senior citizens and disabled persons from $250 to $500.	Introduced, Referred to Assembly Commerce and Economic Development Committee	Carry Over
S1584	Increases annual property tax deduction for senior citizens and disabled persons from $250 to $500.	Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee	Carry Over

Bill > S1534

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (3)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary