Annual Property Tax Deduction for Senior Citizens, Disabled Persons

State

New Jersey

Year

2015

Variations in Receipt of Benefit

No Variation in Receipt of Benefits

Benefit Type

Credit

Benefit

Eligible taxpayers can receive a reduction on their property tax bill in the amount of $250.

How is Benefit Disbursed

Credit to the property tax bill

Eligible Property Type

Residential

Characteristics of Eligible Property

Only residential property is eligible for this program.

Eligibility Criteria

Age

Disability

Homeowner

Income Ceiling

Surviving Spouse

Description of Eligibility Criteria

An applicant must be at least 65 years of age, or less than 65 years of age and permanently and totally disabled, be the owner of the home and have a household income of $10,000 or below. Unmarried surviving spouses over 55 and tenant shareholders in mutual housing corporations are also eligible.

Local Option in Adoption of Program

Local government is unable to exercise an option

Local Option Regarding Program Features

No local option regarding program features

State Funding for Local Tax Loss

Local government covers all of its tax loss

Description of State Funding for Tax Loss

State statutes do not provide for state funding for local tax loss.

Record ID

NJ103_RR15

Footnotes

This deduction cannot be in addition to any other exemption from taxes to which the individual may be entitled, except a veteran’s deduction. An individual receiving this deduction is also eligible to receive any homestead rebate or credit.

Sources

N.J. Rev. Stat. § 54:4-8.40 ~ N.J. Rev. Stat. § 54:4-8.41a (in effect for 2015)
Source Constitution: 
N.J. Const., Art. VIII, Sec. 1, Para. 4

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