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Bill > S1534
NJ S1534
NJ S1534Increases annual property tax deduction for senior citizens and disabled persons from $250 to $500.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
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 would increase the annual property tax deduction for eligible senior citizens and disabled persons in New Jersey. The deduction amount would be gradually increased from the current $250 to $500 over the next 5 years, with the changes taking effect starting in 2023. The provisions of the bill will remain inoperative until the approval of a constitutional amendment by New Jersey voters authorizing the increased property tax deduction for senior citizens and disabled persons.
Committee Categories
Housing and Urban Affairs
Sponsors (3)
Last Action
Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 01/09/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/S1534 |
| BillText | https://pub.njleg.gov/Bills/2024/S2000/1534_I1.HTM |
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