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Bill > S1957
NJ S1957
NJ S1957Amends Fiscal Year 2024 annual appropriations act to extend ANCHOR Property Tax Relief Program eligibility to homestead owners and tenants who made payments in lieu of taxes.
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 amends the Fiscal Year 2023 annual appropriations act to extend ANCHOR Property Tax Relief Program eligibility to residences on which a homestead owner or tenant made one or more payments in lieu of taxes to the municipality in which the residence is located. The ANCHOR Property Tax Relief Program provides property tax relief to New Jersey residents who owned or rented their principal residence on October 1, 2019 and met certain income limits. Currently, homestead owners and tenants who made payments in lieu of taxes on their residences are ineligible for the property tax benefit under the program.
AI Summary
This bill amends the Fiscal Year 2023 annual appropriations act to extend the ANCHOR Property Tax Relief Program eligibility to homestead owners and tenants who made payments in lieu of taxes on their principal residences. The ANCHOR program provides property tax relief to New Jersey residents who owned or rented their principal residence on October 1, 2019 and met certain income limits. Currently, homestead owners and tenants who made payments in lieu of taxes on their residences are ineligible for the property tax benefit under the program, but this bill seeks to include them as eligible recipients.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Budget and Appropriations 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/S1957 |
| BillText | https://pub.njleg.gov/Bills/2024/S2000/1957_I1.HTM |
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