Save Money on Your Property Taxes with the Senior Freeze Program: Don't Escape New Jersey Just Yet
New Jersey Senior Freeze Program: A Guide for Seniors
The New Jersey Senior Freeze Program is a state-funded program that helps eligible senior citizens and disabled persons offset the cost of property taxes on their principal residence. The program reimburses qualified applicants for the increase in their property taxes from the base year to the application year.
Who is Eligible for the Senior Freeze Program?
To be eligible for the Senior Freeze Program, you must meet the following requirements:
Be 65 years of age or older on December 31 of the base year.
Be a New Jersey resident for at least three years as of December 31 of the base year.
Own and occupy your principal residence as of December 31 of the base year.
Have an income that does not exceed the program's income limit.
The Income Limit
The income limit for the Senior Freeze Program is $150,000 for the 2023 filing season. This means that if your household income is more than $150,000, you will not be eligible for the program.
The Base Year
The base year for the Senior Freeze Program is the year in which you first apply for the program. Your property tax increase will be calculated based on the difference between your property taxes in the base year and your property taxes in the application year.
How to Apply for the Senior Freeze Program
To apply for the Senior Freeze Program, you must complete an application form and submit it to the New Jersey Division of Taxation. The application form is available online or by calling the Division of Taxation at 1-800-882-6597.
The Application Deadline
The deadline to apply for the Senior Freeze Program is October 31 of the year following the base year. For example, the deadline to apply for the 2023 program is October 31, 2024.
What to Expect after You Apply
Once you have submitted your application, the Division of Taxation will review your eligibility and determine if you are approved for the program. If you are approved, you will receive a reimbursement check for the difference between your property taxes in the base year and your property taxes in the application year.
Important Program Changes Coming Next Year
The New Jersey Legislature recently passed a law that makes some important changes to the Senior Freeze Program. These changes include:
Increasing the income limit to $150,000.
Eliminating the requirement that applicants be New Jersey residents for 10 consecutive years.
These changes will make the Senior Freeze Program more accessible to more seniors and disabled persons.
Conclusion
The New Jersey Senior Freeze Program is a valuable resource for seniors and disabled persons who are struggling to pay their property taxes. If you are eligible for the program, I encourage you to apply.
Additional Resources
New Jersey Division of Taxation: https://www.state.nj.us/treasury/taxation/
AARP New Jersey: https://www.aarp.org/nj/
Senior Freeze Program FAQ: https://www.state.nj.us/treasury/taxation/ptr/faq.shtml
