The New Jersey Division of Taxation has great news for eligible senior taxpayers! Starting July 15, 2024, the Division began mailing out property tax reimbursement checks under the Senior Freeze Program. This initiative provides financial relief by reimbursing eligible seniors for property tax increases, effectively “freezing” their tax amount.
The program will continue to issue reimbursements as more applications are filed and approved. If you haven’t applied yet, you have until October 31, 2024, to submit your application for the 2023 tax year.
Key Changes for the 2023 Tax Year
Significant changes have been made to the program for the 2023 tax year to make it more accessible:
Residency Requirement: Previously, applicants needed to be New Jersey residents for 10 consecutive years. This requirement has been eliminated, making it easier for more seniors to qualify.
Income Limit Increase: The income limit to be eligible for the program has been raised to $163,050. This increase allows more senior citizens to benefit from the program.
These changes are designed to provide more seniors with financial stability and peace of mind by helping manage property tax expenses.
How to Apply
If you’re eligible and have not yet applied, here’s a simple guide to get started:
- Check Eligibility: Ensure you meet the program’s requirements, including age, residency, and income criteria.
- Gather Documents: Collect necessary documentation, such as proof of age, income, and property tax payments.
- Complete Application: Fill out the application form accurately. You can find the application on the New Jersey Division of Taxation’s website or request one by mail.
- Submit Application: Send in your completed application by the October 31, 2024, deadline.
For additional details and tax advice, please contact Martin D. Hauptman at (973) 243-7912 or via email at mhauptman@mblawfirm.com