Homestead Benefit Program for Senior Citizens and Disabled Persons (Circuit Breaker)

State

New Jersey

Year

2022

Variations in Receipt of Benefit

Benefit Varies with Income

Benefit Type

Circuit Breaker

Benefit

The benefit is a credit to a future property tax bill of up to $10,000, the exact amount of which is determined by a sliding scale of relief based on income. The benefit is not available for those whose gross income exceeds $150,000. For those with income below $100,000, the credit is equal to 5% of property taxes paid and for those with income between $100,001 and $150,000, the credit is equal to 2.5%. The benefit amount cannot exceed the property taxes actually paid. Applications for the 2018 Senior and Disabled Homestead Benefit (paid in 2022) are due by 30 November 2021.

How is Benefit Disbursed

Credit to the property tax bill

Eligible Property Type

Residential

Characteristics of Eligible Property

Only residential property used as the taxpayer's permanent residence is eligible for this program.

Eligibility Criteria

Age

Disability

Homeowner

Income Ceiling

Principal Residence

Description of Eligibility Criteria

Eligible applicants are homeowners age 65 or older, blind, or disabled. An applicant's household income cannot exceed $150,000. Renters, people who are totally exempt from property taxes, and those who made payments in lieu of taxes are not eligible for the benefit.

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

State reimburses all of the local government tax loss

Description of State Funding for Tax Loss

State provides the full funding for the credit.

Record ID

NJ107_RR22

Footnotes

Applications can be made online or by calling the State Department of the Treasury. The filing deadline for the latest Homestead Benefit Application - Tax Year 2018 - is 30 November 2021 for benefits paid in 2022.

Sources

N.J. Rev. Stat. §54:4-8.59 ~ § 54:4-8.60 (in effect for 2022)
New Jersey, Department of the Treasury, Division of Taxation, 2018 Homestead Benefit Application (filed in 2021 for benefits in 2022)
[https://www.state.nj.us/treasury/taxation/pdf/homestead/hownerappins.pdf Accessed 12/12/2023]
View Archived Source
New Jersey, Department of the Treasury, Division of Taxation, Prior Year Homestead Benefit Information
[https://www.nj.gov/treasury/taxation/homestead/prioryear.shtml Accessed 12/12/2023]
View Archived Source

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