Increases annual property tax deduction for senior citizens and disabled persons from $250 to $500.

This bill increases the annual property tax deduction for senior citizens and disabled persons in New Jersey. The deduction will rise incrementally from $250 to $500 over several years, starting in 2027. The bill specifies that the deduction will be $300 in 2027, $350 in 2028, $400 in 2029, $450 in 2030, and $500 in 2031 and beyond. The bill also notes that the deduction has not been increased since 1983. The provisions will remain inoperative until approved by voters through a constitutional amendment.

Increases annual property tax deduction for senior citizens and disabled persons from $250 to $500.

This bill increases the annual property tax deduction for senior citizens and disabled persons in New Jersey. The deduction will rise incrementally from $250 to $500 over several years, starting in 2027. The bill specifies that the deduction will be $300 in 2027, $350 in 2028, $400 in 2029, $450 in 2030, and $500 in 2031 and beyond. The bill also notes that the deduction has not been increased since 1983. The provisions will remain inoperative until approved by voters through a constitutional amendment.