Date: March 4, 2024Attorney: Martin D. Hauptman
The New Jersey Division of Taxation introduces the enhanced 2023 Senior Freeze program for eligible seniors statewide.
What’s New?
- Increased Income Limit: Up to $150,000, making more individuals eligible.
- Residency Update: The 10-year residency requirement is eliminated, ensuring inclusivity.
Eligibility Highlights:
- Age 65 or older by December 31, 2022, or receiving SSDI.
- Homeownership since December 31, 2019, or earlier.
- Timely property tax payments.
- Income of $150,000 or less in 2022, $163,050 by June 1, 2024.
The deadline for 2023 applications is October 31, 2024
For additional details and tax advice, please contact Martin D. Hauptman at (973) 243-7912 or via email at mhauptman@mblawfirm.com