This bill proposes an amendment to the current law regarding the property tax deduction for senior and disabled citizens in New Jersey. Specifically, it seeks to increase the annual income limitation for eligibility from $10,000 to $15,000, effective for the year 2023 and each year thereafter. The bill outlines the income thresholds for previous years, which include $5,000 for years prior to 1981, $8,000 for 1981, $9,000 for 1982, and $10,000 for the years 1983 through 2022. The deduction amount remains capped at $250 for years 1983 and onward.

The bill will take effect immediately but will remain inoperative until a constitutional amendment is approved by voters to authorize this increase in the income limitation. This change aims to provide additional 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