"Homestead School Property Tax Reimbursement Act"; provides State reimbursement for 50% of school property taxes paid by seniors, 65 years and older.

This proposed bill, S 476 (Homestead School Property Tax Reimbursement Act), would provide New Jersey seniors aged 65+ with a state reimbursement for 50% of the school portion of their property taxes. To qualify, seniors must own or lease a qualifying primary residence (including single-family homes, condos, mobile homes in parks, or cooperative units) and meet income limits ($35,000 or less in the first year, $75,000 in the second year, with no limit after that). The reimbursement covers only the school tax portion of property taxes paid on eligible homesteads, excluding penalties or delinquent amounts. The bill is currently pending in the Senate Community and Urban Affairs Committee.