NJ A3555

Bill

Increases annual income limitation for senior and disabled citizens' eligibility for $250 property tax deduction and bases future annual income limitations on annual CPI changes.

Introduced
01/13/2026

In Committee
01/13/2026

Crossed Over

Passed

Dead

Introduced Session

2026-2027 Regular Session

Bill Summary

This bill increases the annual income limit for seniors and disabled persons to be eligible for an annual property tax deduction. The income limit increase reflects an increase in cost of living. The income limit increase from $10,000 to $20,000 reflects actual inflation from 1983 to 2013, and the annual income limit change thereafter will reflect the actual cost of living change for the past year. The bill uses the Consumer Price Index to determine increases in years after 2014 to ensure that the income limits remain realistic. The bill takes effect immediately, but will remain inoperative until the voters approve a constitutional amendment authorizing an increase in the income limit from $10,000 to $20,000, and annual increases thereafter.

AI Summary

This bill, upon voter approval of a necessary constitutional amendment, will increase the annual income limit for senior and disabled citizens to qualify for a $250 property tax deduction from their tax bill. Specifically, the income limit will be raised to $20,000 for the year 2014, and for each year after that, the limit will be adjusted annually based on the percentage change in the Consumer Price Index (CPI) for the previous year, ensuring the income limit keeps pace with the cost of living. The CPI is a measure of inflation published by the U.S. Department of Labor, and in this context, it will be used to determine the cost of living changes for the New York-Northern New Jersey-Long Island metropolitan area. This change aims to make the property tax deduction more accessible to eligible individuals by reflecting the actual inflation that has occurred since the income limit was last set in 1983.

Committee Categories

Government Affairs

Sponsors (5)

Lou Greenwald (D)*, Cody Miller (D)*, Carol Murphy (D)*, Ellen Park (D), Bill Spearman (D),

Last Action

Introduced, Referred to Assembly State and Local Government Committee (on 01/13/2026)

Official Document

https://www.njleg.state.nj.us/bill-search/2026/A3555

(3 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.njleg.state.nj.us/bill-search/2026/A3555
BillText	https://pub.njleg.gov/Bills/2026/A4000/3555_I1.HTM

Bill	Bill Name	Last Action	Type
A2778	Increases annual income limitation for senior and disabled citizens' eligibility for $250 property tax deduction and bases future annual income limitations on annual CPI changes.	Introduced, Referred to Assembly State and Local Government Committee	Carry Over
S1091	Increases annual income limitation for senior and disabled citizens' eligibility for $250 property tax deduction and bases future annual income limitations on annual CPI changes.	Introduced in the Senate, Referred to Senate Health, Human Services and Senior Citizens Committee	Same As
S87	Increases annual income limitation for senior and disabled citizens' eligibility for $250 property tax deduction and bases future annual income limitations on annual CPI changes.	Introduced in the Senate, Referred to Senate Health, Human Services and Senior Citizens Committee	Carry Over

Bill > A3555

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (5)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary