Bill > S521

Introduced Session

This bill increases both the amount of the annual senior citizens' and disabled persons' property tax deduction, and the annual income limit for eligibility to receive that annual deduction. Currently, the Constitution, and the enabling statute, N.J.S.A.54:4-8.41, limits to $10,000 the amount of income that can be earned annually in order to qualify for the senior citizens' and disabled persons' property tax deduction, and limits the amount of that property tax deduction to $250 per year. This bill would increase the annual income limit to $25,000, and the amount of the deduction to $500, beginning in 2015. However, the provisions of the bill would only take effect on the 30th day immediately following the approval by the voters of the State of a constitutional amendment to revise the income limit, and the amount of the property tax deduction, as set forth in the bill. The income limit was last increased in 1983, from $9,000 to $10,000, and the amount of the property tax deduction also was last increased in 1983, from $225 to $250.

Committee Categories

Jon Bramnick (R)*,  Carmen Amato (R), 

Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee (on 01/09/2024)

Official Document