S.4306

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

This bill makes permanent the additional $250 property tax benefit for senior citizen homeowners and tenants under the ANCHOR Property Tax Relief Program. The benefit applies to residents aged 65 or older with a gross income not exceeding $250,000 for homeowners and $150,000 for tenants. The benefit, initially provided for fiscal years 2024, 2025, and 2026, will now be extended indefinitely. The benefit is paid annually, at the same time and in the same manner as other ANCHOR benefits, and as part of the same application process.