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NJ ACR30
NJ ACR30Proposes constitutional amendment to exempt $60,000 of assessment on primary residence owned by senior citizens from property taxation.
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
If approved by the voters of the State, this proposed constitutional amendment would exempt from property taxation $60,000 of the assessed value of the primary residence owned by a senior citizen who is 65 years of age, or older. Exempting $60,000 of the assessed value of a senior citizen's home would lower the amount of the home's value subject to property taxation, and would likely lower the property taxes on the home, thus making the property taxes more affordable to retired senior citizens who are living on a fixed income.
AI Summary
This concurrent resolution proposes a constitutional amendment to exempt the first $60,000 of the assessed value of a primary residence owned by a senior citizen, defined as someone 65 years of age or older, from property taxation. Property taxation is the tax levied on real estate, and the assessed value is the amount a municipality uses to calculate this tax. By exempting a portion of the home's value, this amendment aims to reduce property tax burdens for retired senior citizens who often live on fixed incomes, making their housing more affordable. If approved by voters, this change would become part of the New Jersey Constitution.
Committee Categories
Health and Social Services
Sponsors (1)
Last Action
Introduced, Referred to Assembly Aging and Human Services 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/ACR30 |
| BillText | https://pub.njleg.gov/Bills/2026/ACR/30_I1.HTM |
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