New Jersey proposes a constitutional amendment to exempt $60,000 of the assessed value of a senior citizen's primary home from property taxation.

The proposed constitutional amendment in New Jersey aims to exempt the first $60,000 of the assessed value of a primary residence owned by senior citizens aged 65 or older from property taxation. This change would reduce the amount of a home's value subject to property taxes, potentially lowering the tax burden for retired seniors living on a fixed income. The amendment, if approved by voters, would be implemented through a ballot question at the next general election.

New Jersey proposes a constitutional amendment to exempt $60,000 of the assessed value of a senior citizen's primary home from property taxation.

The proposed constitutional amendment in New Jersey aims to exempt the first $60,000 of the assessed value of a primary residence owned by senior citizens aged 65 or older from property taxation. This change would reduce the amount of a home's value subject to property taxes, potentially lowering the tax burden for retired seniors living on a fixed income. The amendment, if approved by voters, would be implemented through a ballot question at the next general election.