NJ Bill Would Preserve Senior Property Tax Break When Downsizing

New Jersey lawmakers advanced bipartisan legislation allowing recipients of the Senior Freeze property tax relief program to keep their benefit when they downsize or relocate to a new home.

The bill, S1756, would eliminate a waiting period that makes seniors ineligible to receive the tax break for up to three years. The change would allow taxpayers to receive the abatement immediately upon moving, provided that the reimbursement is calculated based on the tax year before relocation. The measure passed unanimously out of the state Senate Community and Urban Affairs Committee on Thursday, and still awaits action in the Assembly. ...