State
New Jersey
Year
2017
Variations in Receipt of Benefit
Benefit Varies with Income
Benefit Type
Circuit Breaker
Benefit
Benefits are based on property taxes paid in 2006 up to a maximum of $10,000 and are determined by a sliding scale of relief based on income. Benefits for homeowners age 65 and over or disabled with gross income below $100,000, tax relief is 10% of property taxes and 5% for those with income between $100,001 and $150,000. There is no benefit for those with gross income over $150,000. The rebate lags by several years as a result of past budget issues. 2014 Homestead Benefit applications were due in 2016 to be paid out in 2017. Applications can be made online or by calling the state Department of the Treasury.
How is Benefit Disbursed
Credit to the property tax bill
Eligible Property Type
Residential
Characteristics of Eligible Property
Only residential property that is the taxpayer's permanent residence is eligible for this program.
Eligibility Criteria
Age
Disability
Homeowner
Income Ceiling
Principal Residence
Description of Eligibility Criteria
Applicant must be age 65 or older or disabled. An applicant's household income cannot exceed $150,000.
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_RR17