Bill > S2118

Introduced Session

This bill revises the criteria for establishing a claimant's base year under the homestead property tax reimbursement program. Under current law, when an eligible claimant moves from one home to another, the base year changes to the first full tax year during which the person resides in the new homestead, and then a claimant is to wait an additional tax year in order to be deemed "eligible" for the homestead property tax reimbursement. The bill allows the claimant to retain eligibility following a move to another New Jersey homestead. Thus, a claimant is to be able to qualify as an eligible claimant immediately following a move and is not to be required to wait an additional tax year in order to claim a reimbursement. In this case the homestead reimbursement payment is to be based on the property taxes assessed on the current homestead for the tax year prior to which the claimant resides in the current homestead. However, if the new homestead is "new construction," which is defined as any homestead that first became taxable during the year in which the eligible claimant initially takes residence in the homestead or the year prior thereto, the base year is to be the first full tax year following the construction's completion.

AI Summary

Committee Categories

Carmen Amato (R)*,  Paul Moriarty (D)*, 

Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 01/13/2026)

Official Document