TRENTON, NJ – The Senate Budget Committee has passed legislation backed by Senate President Nick Scutari to incorporate the StayNJ Task Force’s recommendations for property tax relief. StayNJ aims to reduce property taxes for seniors by up to $6,500 annually.
The legislation, designated as Bill S-3693, seeks to streamline the application process for New Jersey’s property tax relief initiatives. Additionally, it clarifies eligibility criteria and ensures consistent income calculations. These improvements were advised by the StayNJ Task Force to assist seniors in accessing their entitled benefits.
Senator Scutari stated that the Task Force’s recommendations will pave the way for adequately implementing substantial tax relief programs for senior citizens. He said that a more straightforward application process would enable homeowners and renters to easily obtain necessary tax relief, alleviating their property tax burden.
The bill mandates the development of a unified application form to assess eligibility for StayNJ, ANCHOR, and Senior Freeze tax relief programs. The Director of the Division of Taxation is tasked with creating this application form as per the proposed legislation.
