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NJ S263
NJ S263Increases annual income limitation to receive senior and disabled citizens' property tax deduction to $15,000.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill would amend current law to increase the annual income threshold for eligibility to receive the senior and disabled persons $250 property tax deduction from $10,000 to $15,000 once that increase is authorized by constitutional amendment.
AI Summary
This bill, once a constitutional amendment is approved by voters, will increase the maximum annual income a senior citizen or permanently and totally disabled individual can earn to qualify for a $250 property tax deduction from $10,000 to $15,000. This deduction is a credit against property taxes for eligible homeowners or residents of cooperative or mutual housing corporations, and the bill specifically updates the income limitation for years 2023 and beyond, while maintaining the existing $250 deduction amount.
Committee Categories
Housing and Urban Affairs
Sponsors (3)
Last Action
Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 01/13/2026)
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/2026/S263 |
| BillText | https://pub.njleg.gov/Bills/2026/S0500/263_I1.HTM |
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