Budget & Taxes (Property Tax)

in committee · New Jersey · General Assembly Jan 13, 2026

A 263: Requires Director of Division of Taxation to include sales of properties in age-restricted developments by third parties in table of equalized valuations.

This bill amends New Jersey law to require the Director of the Division of Taxation to include sales of properties in age-restricted communities sold by third parties (such as guardians, executors, or trustees) in the table of equalized valuations used for tax assessments. It directly affects residents of age-restricted communities, as current rules exclude these sales from valuation calculations due to their non-market nature. The key change mandates that such third-party sales be counted as part of the data determining fair market value for property tax purposes. This adjustment aims to ensure assessments better reflect actual market conditions for these properties.

Topics ✓ Budget & TaxesSupports Budget & TaxesMandates inclusion of third-party property sales in tax valuations, closing a loophole that previously excluded non-market sales, promoting fairer tax assessment and fiscal responsibility.85% confidence

Sub-Topics Property Tax

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in committee · New Jersey · General Assembly Jan 13, 2026

A 1470: Removes limit in annual budget requests of certain county offices.

This bill removes a 2% annual limit on property tax increases for certain county offices. It specifically affects county clerks, surrogates, prosecutors, and sheriffs (referred to as "county constitutional officers" in the bill), allowing their budget requests for property tax portions to exceed the previous year's amount without the 2% cap. Currently, these offices must keep property tax increases for their budgets below 2% annually, but this bill eliminates that restriction. The change applies immediately to the next county budget cycle following enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesRemoves 2% cap on property tax increases for county offices, enabling higher budget requests for essential services like sheriffs and prosecutors, supporting fiscal management of county budgets.95% confidence

Sub-Topics Property Tax

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in committee · New Jersey · General Assembly Jan 13, 2026

ACR 17: Proposes amendment to Constitution to require each house of the Legislature to meet four times annually solely to vote on bills that provide property tax relief.

ACR 17 is a proposed constitutional amendment requiring New Jersey’s legislature to hold four quarterly meetings each year solely to vote on bills certified as providing property tax relief. To qualify, bills must lower property taxes (not increase revenue) and address specific areas like education funding, pension reforms, or local government savings. If a bill passes in one legislative chamber, the other chamber must vote on it within 60 days. The amendment does not force the legislature to pass all such bills or prevent consideration of property tax legislation outside these designated meetings.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill mandates legislative sessions solely for property tax relief bills that lower taxes, directly aligns with tax relief indicators for middle/lower income homeowners.95% confidence

Sub-Topics Pensions Property Tax

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in committee · New Jersey · General Assembly Jan 13, 2026

ACR 63: Freezes property taxes on primary residences of homeowners 65 years of age and over.

ACR 63 proposes a constitutional amendment to freeze property taxes for New Jersey homeowners aged 65 or older who use their primary residence as their home. It would stabilize taxes at the amount paid in the year the owner turns 65 or acquires the home, requiring annual application to the local tax collector. The freeze applies only to the primary residence and continues for as long as the owner lives there, with surviving spouses who meet age requirements also eligible. This would not apply to second homes or new property purchases (except for disaster-rebuilt homes), and would require voter approval after legislative passage.

Topics ✓ Budget & TaxesSupports Budget & TaxesFreezes property taxes for seniors, providing direct tax relief to a vulnerable demographic, aligning with 'support' indicators for tax protection.95% confidence

Sub-Topics Property Tax

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in committee · New Jersey · General Assembly Jan 13, 2026

A 1473: Allows certain municipalities to establish lower property tax rate on improvements than land.

This bill allows certain New Jersey municipalities - specifically those in urban enterprise zones (current or former) - to adopt a "land-based property tax system" where improvements (like buildings) are taxed at a lower rate than the land they sit on. Other municipalities may apply for approval to implement this system after seven years, but must meet standards preventing its use in areas primarily dedicated to open space, farmland, or environmental preservation. The system permits gradual phase-in of tax rate differences and allows municipalities to revert to a single tax rate if desired. The goal is to encourage redevelopment of vacant urban land by making property improvements more financially attractive to owners, potentially increasing housing and economic activity in targeted areas.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax relief for property owners in urban enterprise zones by lowering rates on improvements vs. land, aligning with tax relief indicators.92% confidence ✓ HousingSupports HousingAllows lower tax on building improvements in urban zones, incentivizing development and potentially increasing housing supply in revitalization areas.85% confidence

Sub-Topics Property Tax Tax Incentives Community Development Property Taxes Zoning

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in committee · New Jersey · General Assembly Jan 13, 2026

ACR 75: Proposes constitutional amendment authorizing municipalities to provide partial property tax exemption of up to 15 percent of assessed value for primary residence of certain volunteer first responders.

ACR 75 is a proposed constitutional amendment that would allow New Jersey municipalities to offer a partial property tax exemption of up to 15% on the assessed value of a primary residence for eligible volunteer first responders. It would require municipalities to pass an ordinance to implement the exemption, with each municipality deciding whether to offer it and the exact percentage (up to 15%). The exemption would apply only to active members of volunteer fire companies or first aid/rescue squads serving that specific municipality, and the home must be their primary residence within that municipality. If approved by voters, the Legislature would then need to pass a law enabling this program.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax relief for volunteer first responders via partial property tax exemption (up to 15%), reducing their tax burden as a targeted fiscal benefit.90% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New Jersey · General Assembly Jan 13, 2026

A 2684: Increases, from 18 percent to 30 percent, amount of rent constituting property taxes for purposes of gross income tax deduction for certain tenants.

This bill increases the portion of rent that counts toward property tax deductions for eligible renters in New Jersey, raising it from 18% to 30% for tenants with annual gross income of $150,000 or less. It directly affects low-to-moderate-income renters who occupy residential rental properties as their primary residence. The key change modifies the definition of "rent constituting property taxes" in the tax code, allowing a larger share of rent payments to reduce taxable income. This applies to all qualifying residential rental units, including those in mobile home parks, but maintains the 18% rate for renters earning over $150,000 annually.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax deduction for low-to-moderate-income renters (under $150k) by raising rent portion counted toward property taxes, providing direct tax relief per bill's explicit language.90% confidence ✓ HousingSupports HousingIncreases tax deduction for low-to-moderate-income renters, reducing taxable income and enhancing housing affordability for primary residents under $150k income.95% confidence

Sub-Topics Income Tax Property Tax Property Taxes Renters Tenant Rights

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in committee · New Jersey · General Assembly Jan 13, 2026

A 1336: Modifies procedure for fire districts to request exemption from property tax levy cap.

This bill changes how fire districts in New Jersey can request permission to raise property taxes above the standard 2% annual levy cap. Currently, fire districts must seek voter approval through a public referendum to exceed the cap, but this bill allows them to instead apply directly to the Local Finance Board for approval. The Board must consider the fire district's specific financial circumstances, such as budget changes or revenue shifts, when reviewing the request. If denied, the Board's decision is final for that fiscal year with no appeals allowed. This applies only to fire districts, not other local governments like municipalities.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill enables fire districts to adjust property taxes for fiscal needs without voter approval, promoting responsible budget management within tax levy framework.90% confidence

Sub-Topics Property Tax

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in committee · New Jersey · General Assembly Jan 13, 2026

ACR 64: Proposes constitutional amendment permitting Gold Star families to receive veteran's property tax deduction.

ACR 64 proposes a constitutional amendment to extend New Jersey's existing $250 annual property tax deduction for veterans to Gold Star families. This would allow parents, siblings, children, legal guardians, or legal custodians of service members who died while on active duty or from duty-related injuries to receive the same deduction. The deduction would be limited to one per family, with priority among eligible relatives determined by law. Unmarried surviving spouses of deceased veterans are already covered under current law and would not be affected by this change. The amendment requires voter approval to take effect.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends property tax deduction, providing tax relief to Gold Star families.95% confidence ✓ VeteransSupports VeteransExtends existing $250 veteran property tax deduction to Gold Star families, expanding benefits for families of fallen service members.95% confidence

Sub-Topics Property Tax Memorials & Recognition

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in committee · New Jersey · General Assembly Jan 13, 2026

A 3528: Authorizes State constitutional convention to reform system of property taxation; makes appropriation.

This bill authorizes a constitutional convention to reform New Jersey's property tax system, requiring two public votes: one in 2012 to approve the convention and another in 2013 to ratify its recommendations. The convention must propose revenue-neutral changes (keeping total state tax revenue the same) to reduce property tax inequities, especially for low- and moderate-income residents, while maintaining current school funding and affordable housing obligations. It mandates that the convention complete its proposals by August 2013 for voter approval in November 2013, with any statutory changes subject to future legislative review.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill targets property tax inequities for low/moderate-income residents through revenue-neutral reform, maintains school funding, and explicitly aims to reduce tax burdens via constitutional convention. Directly advances tax fairness within Budget ...95% confidence ✓ HousingSupports HousingBill explicitly mandates maintaining current affordable housing obligations during property tax reform, preventing reductions to existing protections.95% confidence

Sub-Topics Appropriations Property Tax Revenue Affordable Housing Property Taxes

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