I attended a meeting regarding the New Jersey Senior Property Tax Rebate programs for 2024, and I’m sharing key updates to help you navigate these benefits. Significant changes have been introduced, streamlining the process for seniors (65+) and those receiving federal Social Security disability benefits. Below is a summary of the meeting’s highlights:
1. New Combined Application for 2024
- Single Application: For 2024, all property tax relief programs are consolidated into one annual application, eliminating multiple filings and deadlines (e.g., Senior Freeze in February, Anchor in August). This applies to those 65 or older by December 31, 2023, or receiving Social Security disability benefits.
- Programs Included:
o Senior Freeze (Property Tax Reimbursement): Reimburses the difference between your base year (2023 for new applicants) and current year property taxes. Cumulative benefits grow over time. No changes for existing participants with an established base year.
o Anchor Program: Provides a flat benefit (previously $1,000-$1,500 for homeowners, $450 for renters, plus $250 extra for seniors). Amounts for 2024 will be confirmed after the state budget is signed in June 2025.
o Stay NJ Program: A new program for homeowners 65+ by December 31, 2024, offering 50% of property taxes back, up to a $6,500 cap.
• Reduced Documentation: Most applicants won’t need to submit proof of property taxes, age, or disability. Special cases (e.g., trusts, life estates, or deceased spouse) may require additional documents like trust agreements or death certificates.
2. FilingOptionsandDeadline • Filing Methods:
o Paper Filing: Use the “blue book” application, mailed to many eligible seniors or available at regional offices, tax collectors’ offices, or online via the Division of Taxation’s website, CLICK HERE. Paper filings result in paper checks (no direct deposit) and no automatic confirmation number.
o Electronic Filing: Available now through the Division’s portal, offering direct deposit, a confirmation number, and tailored questions based on your
situation. Requires ID.me verification, but regional offices or filing events can assist with in-person ID verification.
- Deadline: October 31, 2025, for all filing methods.
- Assistance: Regional offices are walk-in centers (no appointments needed) and require a checklist of items for assistance (included below). Filing events from July to October 2025 will also provide support statewide.
o What to have ready before visiting: Social Security number, Name, Address, Photo ID, All 2023 & 2024 Income Documentation, Total billed 2023 & 2024 Property taxes.
3. Eligibility and Benefits • Senior Freeze:
o Eligibility: 65+ or disabled by December 31, 2023; owned and lived in the home for 3+ years (by December 31, 2020); income under $163,050 (2023) and $168,268 (2024).
o Benefit: Difference between 2023 (base year) and 2024 property taxes. A one- time income exceedance exception preserves your base year if you exceed income limits in a single year.
• Anchor:
o Eligible New Jersey homeowners and renters under 65 and not collecting Social Security disability benefits may have their applications automatically filed when online filing becomes available in the summer. If you do not receive an Auto-File Confirmation Letter, you can file an Application for Property Tax Relief on your own.
o Eligibility: 65+ or disabled, owned/rented principal residence on October 1, 2024; income under $250,000 (homeowners) or $150,000 (renters).
o Benefit: Flat amount, paid in mid-September 2025. No longer automatic for 65+ or disabled; must file the combined application.
• Stay NJ:
o Eligibility: 65+ by December 31, 2024; owned principal residence for all of 2024; income under $500,000.
o Benefit: 50% of property taxes up to $6,500, paid in four quarterly payments starting February 2026.
4. Payment Scenarios
- Stay NJ Only: Receive 50% of property taxes (up to $6,500) in four quarterly
payments (February, May, August, November 2026).
- Eligible for All Three: If Stay NJ (50% of taxes) exceeds Senior Freeze + Anchor, you receive Senior Freeze (July 2025 onward, rolling based on filing date), Anchor (September 2025), and the remaining Stay NJ balance in quarterly payments. If Senior Freeze + Anchor exceeds Stay NJ, you receive only those two (Senior Freeze has no cap).
- Example: For $10,000 in property taxes, Stay NJ = $5,000. If Senior Freeze = $1,000 and Anchor = $1,500, you’d get $1,000 (July), $1,500 (September), and $2,500 divided over four quarterly payments.
5. Income Calculation
- Anchor: Uses NJ gross income (line 29 of NJ tax return).
- Senior Freeze & Stay NJ: Requires a worksheet (in the blue book) adding NJ total income (line 27), tax-exempt interest (line 16b), excludable pension/IRA income (line 20b), Roth IRA distributions, disability pensions, and gross Social Security income.
6. Additional Resources
- Website & QR Code: Access applications ONLINE or PRINT, FAQs, updates, and event schedules EVENTS at the Division of Taxation’s property tax relief webpage (QR code provided in meeting materials).
- Regional Offices: Walk-in support for filing, questions, or payment issues.
- Statewide Events: Presentations through May 2025 and filing assistance events from July to October 2025.
Action Steps:
- File by October 31, 2025, even if unsure of eligibility—the Division will determine
your benefits.
- Check the Division’s website in mid-to-late June 2025 for updated Anchor and Stay NJ benefit amounts post-budget.
- Notify the Division of address changes via phone or website to ensure timely payments and application delivery.
- Review the blue book’s income worksheet and instructions to calculate eligibility accurately.
For personalized guidance, please contact me to discuss your specific situation. I’m here to help you maximize these benefits.