TRENTON – The Senate has approved legislation, sponsored by Senate President Nick Scutari, that will codify the recommendations of the StayNJ Task Force report. Under StayNJ, seniors will see their property taxes reduced by up to $6,500 annually.
The bill, S-3693/A-4706, would simplify the application process for all of New Jersey’s property tax relief programs, clarify the eligibility requirements and ensure consistency in income calculations. Recommended by the StayNJ Task Force, these changes would make it easier for New Jersey seniors to receive their benefits.
“The Task Force’s recommendations will establish a framework for the effective implementation of a program that will provide substantial property tax relief for senior citizens,” said Senator Scutari. “It will produce a streamlined application process that makes all the tax relief programs easier to use so that homeowners and renters receive the relief they need to help offset the burden of property taxes.”
The bill proposes the creation of an application process to simultaneously determine eligibility for StayNJ, along with the ANCHOR, and Senior Freeze property tax relief programs. Under the legislation, the Director of the Division of Taxation would be required to develop a unified application.
The bill also sets timelines for the Treasury Department to promulgate the unified application, program start time, application reviews, and how and when benefits would be calculated and paid out to eligible program participants.
In the first year, benefits will be issued as a check or direct deposit. The department would be tasked with meeting the StayNJ statutory requirement of moving both Senior Freeze and StayNJ into a direct property tax credit applied to one’s local property taxes.
The Senate vote was 40-0.
