This year, the State of NJ has issued a blue book that combines three property tax relief programs for eligible taxpayers. The PAS-1 form allows individuals to apply for three programs – the Senior Freeze, ANCHOR, and Stay NJ – if they are 65 or older, Social Security Disability recipients, or mobile homeowners. With the new process, it is common to have questions about what has changed and when applicants should expect to receive payments.
Category: Property Tax
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2026 Proposed Senior Property Tax Changes
StayNJ is a recently finalized program aimed at assisting homeowners and renters 65 years of age and older in New Jersey. The fine details on filings & procedures are currently being ironed out.
- The program outlines a 50% property tax cut for seniors making $500,000 or less, with a maximum tax cut of $6,500 and a $700 rebate to senior renters.
- The program will not take effect until the beginning of 2026 and will replace the anchor program as well as the property tax relief program.
Click the link below for more details.
https://www.nytimes.com/2023/06/21/nyregion/property-tax-cut-new-jersey.html