Proposes constitutional amendment to increase annual income limitation for senior and disabled citizens' $250 property tax deduction and bases future annual limitations on annual CPI changes.

ACR 12 proposes a constitutional amendment to increase the annual income limit for New Jersey seniors (65+) and disabled citizens to qualify for a $250 property tax deduction. It raises the current $10,000 income limit to $20,000 starting in 2015, with future limits automatically adjusted each year based on Consumer Price Index (CPI) changes. This affects low-income homeowners aged 65+ or permanently disabled individuals who own or rent in qualifying housing. The amendment would update a provision last changed in 1983, requiring implementing legislation to define CPI adjustments after 2015.