S.Con.Res.89

New Jersey proposes a constitutional amendment to raise the annual income limit for senior and disabled property tax deductions from $10,000 to.

The New Jersey Senate Concurrent Resolution 89 proposes a constitutional amendment to increase the annual income limit for senior and disabled property tax deductions. Currently, seniors aged 65 and older, or those permanently and totally disabled, can qualify for a property tax deduction if their income does not exceed $10,000 annually. This limit has not been adjusted since 1983. The proposed amendment would raise the income limit to $15,000, effective in 2023. This change would benefit eligible seniors and disabled citizens by potentially lowering their property tax burden.