property tax relief
Stay NJ: Property Tax Relief for New Jersey’s Seniors
Senator Andrew Zwicker and Assemblyman Roy Freiman fought for StayNJ – a historic property tax relief program passed in the FY 2024 budget that will ease the financial burden for senior homeowners and their families
StayNJ will:
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Cut senior homeowners’ local property taxes in half, saving seniors and their families up to $6,500 annually
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PROVIDE SENIOR RENTERS WITH $700
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PROVIDE SENIOR HOMEOWNERS WITH A $1,750 or $1,250 CHECK DEPENDING ON THEIR INCOME to help lower their property tax burden
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Provide increasing property tax relief in the upcoming years – putting money back in the pockets of our seniors and their families
Anchor: Largest Property Tax Relief Program in New Jersey State History
We Delivered over $900 million in Property Tax Relief to All New Jerseyans through the ANCHOR Program
Senior Freeze (Property Tax Reimbursement)
The Senior Freeze Program reimburses eligible senior citizens and disabled persons for property tax increases on their principal residence (main home). NJ residents who owned and occupied a home in NJ that was their principal residence on October 1, 2017 may be eligible to qualify for this program—provided property taxes were paid and income limits are met. Call the NJ Senior Freeze Hotline 1-800-882-6597 for further assistance. You may also visit nj.gov/taxation.
Deductions, Exemptions, and Abatements
The State of New Jersey offers several property tax deductions, exemptions and abatements. These programs are managed by your local municipality. Click on the below links to learn more about what deductions you may qualify for:
- $250 Property Tax Deduction for Senior Citizens and Disabled Persons;
- $250 Veteran Property Tax Deduction;
- 100% Disabled Veteran Property Tax Exemption; and
- Active Military Service Property Tax Deferment.
Property assessment, exemption, and abatement programs include:
- Automatic Fire Suppression System Property Tax Exemption;
- Environmental Opportunity Zone Property Tax Exemption;
- Five Year Exemption and Abatement;
- Historic Site Property Tax Exemption;
- Non-Profit Organization’s Property Tax Exemption;
- Non-Residential Development Fee Certification/Exemption;
- Renewable Energy System Property Tax Exemption; and
- Urban Enterprise Zone Property Tax Abatement
A team focused on solutions to today’s challenges.
StayNJ: “StayNJ is a historic tax relief program that will deliver much-needed financial relief to New Jersey seniors and their families. This program will cut property taxes for seniors by 50% and allow seniors to retire in New Jersey, within the communities they built for us.”
ANCHOR: “There are far too many New Jersey residents still struggling to make ends meet in the aftermath of the worst days of the COVID 19 pandemic. The ANCHOR program promises timely relief to millions of homeowners and renters, putting money back into their pockets, and helping to keep our state affordable, and our economy strong and competitive in both the near- and short-term”
StayNJ: “The cost of living in New Jersey is high, we all know that. But our seniors deserve the chance to live comfortably near family and friends, and that’s what StayNJ will help them do. This legislation will significantly ease financial burdens and make day-to-day life more affordable for seniors and their families – providing up to $6,500 in tax credits to seniors across this state.”
ANCHOR: “Helping people keep up with their bills and giving them more breathing room has never been more important than it is right now. Two billion dollars in direct property tax relief to New Jersey residents is monumental. Taxpayers will see the impact of this kind of investment on their property tax bill and in their wallets.”
StayNJ: “I am proud to be running with two public servants who worked tirelessly to get StayNJ passed. As my parents age, I too am worried about the rising cost of living and their ability to stay afloat. I am grateful to the legislature for this action, and I am ready to continue the work to lower costs for families across this state when elected this November to the New Jersey General Assembly.”
ANCHOR: “I am proud of the work our legislators have done to fight to lower costs for families through the ANCHOR Program – the largest property tax relief program in NJ state history. When elected this November, I will fight hard as your Assemblywoman to build on that work in Trenton.”
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