New Jersey Lawmakers Vote to Launch StayNJ Property Tax Relief

New Jersey lawmakers took a major step Monday toward launching the new StayNJ property tax relief plan, which would provide eligible seniors with up to $6,500 off their annual property tax bills.

The state Senate and Assembly passed a bill, A4706, to enact recommendations made by a task force earlier this year to implement StayNJ and simplify the application process for the state’s different property tax benefits. The StayNJ program is scheduled to take effect in fiscal 2026 and provide eligible seniors who have gross income under $500,000 with a 50% credit on the annual tax bill for their ...