State
New Jersey
Year
2019
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. The applicant must be the owner of the home. Total income must be $10,000 or below, not including income from social security, federal and state pensions, or disability and retirement programs. 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_RR19
Footnotes
Sources
[http://www.state.nj.us/treasury/taxation/pdf/other_forms/lpt/ptd.pdf Accessed 12/21/2020]
View Archived Source
New Jersey Treasury Department, Guide for Property Tax Benefits, (2018)
[http://www.state.nj.us/treasury/taxation/pdf/lpt/ptbenefitsbrochure.pdf Accessed 12/21/2020]
View Archived Source