Bill Text: NJ S4306 | 2026-2027 | Regular Session | Introduced
Bill Title: Makes permanent additional $250 ANCHOR property tax benefit for certain senior citizen homeowners and tenants.
Sponsorship: Partisan Bill (Republican 1)
Status: (Introduced) 2026-05-18 - Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee [S4306 Detail]
Download: New_Jersey-2026-S4306-Introduced.html
Sponsored by:
Senator CARMEN F. AMATO, JR.
District 9 (Ocean)
SYNOPSIS
Makes permanent additional $250 ANCHOR property tax benefit for certain senior citizen homeowners and tenants.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning the ANCHOR Property Tax Relief Program and amending P.L.2023, c.75.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Section 15 of P.L.2023, c.75 (C.54:4-8.61a) is amended to read as follows:
15. a. In addition to the property tax benefits paid under the ANCHOR Property Tax Relief Program to eligible homestead owners and tenants on their principal residences, whether owned or rented, pursuant to the provisions of sections 3 or 4 of P.L.1990, c.61 (C.54:4-8.59 or C.54:4-8.60) as amended, [the State Fiscal Year 2024] each annual appropriations act shall provide for the following additional benefits under the ANCHOR Property Tax Relief Program:
(1) a resident homestead owner 65 years of age or older with gross income not in excess of $250,000 for the tax year that is used to determine such resident homestead owner's eligibility for the ANCHOR Property Tax Relief Program is eligible for an additional benefit in the amount of $250; provided, however, the total benefits received by such resident homestead owner under the ANCHOR Property Tax Relief Program and this section shall not exceed the amount of property taxes paid by such resident homestead owner; and
(2) a resident 65 years of age or older whose homestead is a unit of residential rental property with gross income not in excess of $150,000 for the tax year that is used to determine such resident's eligibility for the ANCHOR Property Tax Relief Program is eligible for an additional benefit in the amount of $250.
b. The additional property tax benefits required pursuant to subsection a. of this section shall be paid [in State Fiscal Years 2024, 2025, and 2026] annually at the same time and in the same manner as, and as part of the same application process for, property tax benefits provided under the ANCHOR Property Tax Relief Program.
(cf: P.L.2023, c.75, s.15)
2. This act shall take effect immediately.
STATEMENT
This bill would make permanent the additional $250 property tax relief benefits that have been paid to senior citizen homeowners and tenants under the ANCHOR Property Tax Relief Program since State Fiscal Year 2024.
The ANCHOR Property Tax Relief Program provides benefits to certain taxpayers who reside in the State. Generally, taxpayers are eligible for a benefit of between $450 and $1500 each year, depending on whether the taxpayer owned or rented a principal residence and the extent to which certain income requirements are met. Taxpayers who are age 65 or older and meet all other program eligibility criteria qualify for an additional benefit of $250. Notably, a qualifying senior citizen taxpayer who owns a principal residence in the State would receive the additional benefit, provided that their gross income for the tax year does not exceed $250,000. A qualifying senior citizen whose principal residence is a unit of residential rental property would receive the additional benefit, provided that their gross income for the tax year does not exceed $150,000. However, the period of time during which this additional benefit is available to qualifying senior citizens is limited to State Fiscal Years 2024, 2025, and 2026. Thus, the additional benefit would not be provided beginning with State Fiscal Year 2027.
This bill would extend the period of time during which the additional $250 benefit is provided under the ANCHOR Property Tax Relief Program to require that it be paid annually in future State fiscal years. Similarly, the bill would continue to provide the additional benefit at the same time, in the same manner, and as part of the same application process for, other benefits that are provided under the program.
