This bill proposes an amendment to the current law regarding property tax deductions for senior and disabled citizens in New Jersey. Specifically, it seeks to increase the annual income limitation for eligibility to receive the property tax deduction from $10,000 to $15,000, effective for the year 2023 and each year thereafter. The bill outlines the previous income thresholds, which were $5,000 for years prior to 1981, $8,000 for 1981, $9,000 for 1982, and $10,000 for the years 1983 through 2022.

Additionally, the bill stipulates that the increase in the income limitation will only take effect upon the approval of a constitutional amendment that authorizes this change. The current deduction amount remains at $250, and the bill clarifies that the income of a married person will include their spouse's income, except for periods of separation. Overall, this legislation aims to provide greater financial relief to senior and disabled citizens by allowing more individuals to qualify for the property tax deduction.

Statutes affected:
Introduced: 54:4-8.41