A5093

Makes permanent the $250 ANCHOR property tax benefit for certain senior citizen homeowners and tenants.

This bill makes permanent the additional $250 property tax relief benefits for senior citizen homeowners and tenants under the ANCHOR Property Tax Relief Program. The benefit applies to those aged 65 or older with a gross income not exceeding $250,000 for homeowners and $150,000 for tenants. The benefit was initially set to expire after State Fiscal Year 2026, but this bill ensures it continues indefinitely. The ANCHOR Property Tax Relief Program generally provides benefits between $450 and $1500 annually to eligible taxpayers.