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Bill > S3543
NJ S3543
NJ S3543Increases annual property tax deduction for senior citizens and disabled persons from $250 to $500.
summary
Introduced
02/19/2026
02/19/2026
In Committee
02/19/2026
02/19/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill increases the amount of the annual property tax deduction provided to eligible senior citizens and disabled persons from the current $250 to $300.00 in tax year 2027, $350.00 in tax year 2028, $400.00 in tax year 2029, $450.00 in tax year 2030, and $500.00 in tax year 2031 and in each tax year thereafter. The amount of this annual property tax deduction has not been increased since 1983. The provisions of the bill are to remain inoperative until the approval by the voters of the State of a constitutional amendment authorizing this increased property tax deduction for senior citizens and disabled persons.
AI Summary
This bill, intended to provide additional property tax relief to eligible senior citizens and disabled persons, proposes to gradually increase the annual property tax deduction from its current amount of $250 to $500 by the year 2031. Specifically, the deduction would rise to $300 in tax year 2027, $350 in 2028, $400 in 2029, $450 in 2030, and finally reach $500 in 2031 and every year thereafter. This increase is significant as the deduction has not been updated since 1983. However, these changes will not take effect until voters approve a constitutional amendment authorizing this enhanced property tax deduction for seniors and individuals with disabilities.
Committee Categories
Housing and Urban Affairs
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 02/19/2026)
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/S3543 |
| BillText | https://pub.njleg.gov/Bills/2026/S4000/3543_I1.HTM |
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