Senior Citizen Property Tax Freeze

In these hard economic times, we are very happy to bring you some good news: The State Legislature has raised income thresholds for seniors and disabled New Jersey residents to have their property taxes frozen at current levels. Homeowners who make as much as $80,000 a year can now qualify for the freeze.

The threshold has been increased from $45,135 in income if single and $55,344 in combined income for married couples, to $80,000 for both couples and single residents. The new limits are as follows: 

  • $60,000 – single or combined income during tax year 2007
  • $70,000 – single or combined income during tax year 2008
  • $80,000 – single or combined income during tax year 2009  

Disabled residents, or those age 65 or older who meet the income threshold must also meet the following requirements under the program:

 

  • have lived in New Jersey continuously for the last ten years;
  • owned and lived in a home or a mobile home for the past three years;
  • paid full amount of property taxes or site fees of a mobile home that were due up to the year in which you are claiming reimbursement.  

If you believe that you, or someone you know, is eligible for the program and have not received an application from the Department of Treasury for 2007, please visit the following links:

 

Link for information on qualifying for 2007 reimbursement

http://www.state.nj.us/treasury/taxation/07increaseincome.shtml

 

Link for the 2007 Property Tax Reimbursement Application

http://www.state.nj.us/treasury/taxation/pdf/other_forms/ptr/07ptr1.pdf