Budget & Taxes (Property Tax)

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

A 830: Allocates nondedicated portion of State realty transfer fee collections to municipal property tax relief.

This bill (A 830) redirects the "nondedicated General Fund portion" of New Jersey's realty transfer fees - paid when property is bought or sold - to provide direct property tax relief for municipalities. Currently, these fees (collected at rates based on property value) contribute to the state's General Fund, but this bill would require that specific portion to instead fund local tax reductions. The key mechanism amends existing laws (P.L.1968, c.49; P.L.2004, c.66; P.L.1992, c.148) to change the allocation of these fees. It directly affects municipalities, which would receive these funds to lower property taxes for residents, and property owners who pay the transfer fees.

Topics ✓ Budget & TaxesSupports Budget & TaxesRedirects realty transfer fees to fund municipal property tax relief, directly reducing local tax burdens per bill summary.95% confidence

Sub-Topics Property Tax State Budget

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

ACR 97: Proposes constitutional amendment requiring Legislature to enact statute authorizing $200 property tax credit for primary residence of volunteer firefighter or first aid squad member.

ACR 97 proposes a constitutional amendment requiring New Jersey's Legislature to create a $200 property tax credit for the primary residence of volunteer firefighters or first aid/rescue squad members. It directly affects volunteer emergency responders who serve as active members of qualifying fire companies or squads incorporated under state law. The key mechanism mandates that any statute enacted under this amendment must require the state to annually reimburse municipalities for the full cost of these tax credits. This policy change would provide a fixed tax benefit to eligible homeowners without increasing local tax burdens.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides targeted tax relief via $200 property tax credit for volunteer responders, requiring state reimbursement to municipalities, creating new state expenditure for fiscal support.95% confidence

Sub-Topics Property Tax Tax Credits

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

A 2898: Permits school districts to receive loans from State to support operating budget under certain circumstances.

This bill creates a state loan program for New Jersey school districts facing significant budget shortfalls that would force cuts to nonmandatory programs like advanced courses, sports, music, and clubs. Districts must apply after receiving their state school aid notice, demonstrating they cannot resolve the shortfall through program reductions or tax increases while meeting specific criteria, including five years of at least 2% annual property tax hikes. The state will review applications within 30 days and allow districts to delay budget deadlines until a decision is made. The program aims to prevent cuts to educational offerings while ensuring districts have explored other budget options.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates state loan program to prevent school district budget cuts to nonmandatory programs, directly supporting public education funding and fiscal management.90% confidence ✓ EducationSupports EducationBill creates state loan program to prevent school districts from cutting nonmandatory programs (advanced courses, sports, clubs) due to budget shortfalls, directly protecting educational offerings and funding stability.95% confidence

Sub-Topics Property Tax

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

ACR 37: Proposes constitutional amendment to provide property tax exemption for primary residence of surviving spouse of law enforcement officer killed in the line of duty.

ACR 37 proposes a constitutional amendment to exempt the primary residence of a surviving spouse from property taxes if their law enforcement officer spouse was killed in the line of duty. This would directly affect surviving spouses of eligible officers who own and occupy their home as their primary residence and do not remarry. The exemption would remain in effect until the spouse remarries or stops occupying the home as their primary residence. As a constitutional amendment, it requires voter approval after legislative passage.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides targeted property tax exemption for vulnerable survivors, aligning with tax relief indicators for specific groups.85% confidence

Sub-Topics Property Tax Tax Incentives

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

ACR 62: Proposes constitutional amendment to increase to $500 veterans' property tax deduction.

ACR 62 proposes a constitutional amendment to increase New Jersey's veterans' property tax deduction from $250 to $500 annually, phased over five years (reaching $500 by 2027). It directly affects honorably discharged veterans, their surviving spouses, and veterans living in continuing care retirement communities. The amendment would raise the deduction to $300 in 2023, $350 in 2024, $400 in 2025, $450 in 2026, and $500 starting in 2027, with the deduction canceling taxes if the bill is lower than the deduction amount. This change requires voter approval after legislative passage, as it modifies the state constitution.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases veterans' property tax deduction from $250 to $500, providing direct tax relief to eligible veterans. Aligns with tax relief indicators for specific groups.95% confidence ✓ VeteransSupports VeteransIncreases veterans' property tax deduction from $250 to $500 annually, directly expanding financial benefits for eligible veterans and their spouses.95% confidence

Sub-Topics Property Tax Memorials & Recognition Veteran Benefits

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

A 1186: Permits taxpayers to deduct total amount of State property taxes paid on principal residence from gross income tax obligation.

This bill allows New Jersey residents to deduct the full amount of state property taxes paid on their principal residence from their gross income tax obligation, removing the previous $15,000 annual cap. It directly affects homeowners who itemize deductions on their state tax returns, particularly those with property tax bills exceeding $15,000. Key provisions include clarifying deductions for co-owners, rental properties, and adjustments for high-income taxpayers (those earning over $250,000 annually may face reduced deductions). The bill amends existing tax code sections to implement these changes while maintaining income-based limitations.

Topics ✓ Budget & TaxesSupports Budget & TaxesRemoves $15k cap on property tax deductions, providing direct tax relief to homeowners with high property taxes, aligning with tax relief indicators.95% confidence

Sub-Topics Income Tax Property Tax

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

ACR 52: Proposes constitutional amendment to limit assessment of homestead real property, and allow exemption on up to $50,000 of home's value.

ACR 52 proposes a constitutional amendment to limit annual increases in the assessed value of primary residences in New Jersey for property tax purposes. It would cap annual increases at the lower of 3% of the prior year's value or the change in the Consumer Price Index (CPI). The amendment requires a full property tax exemption for the first $25,000 of a home's assessed value and an exemption from non-school district property taxes on the next $25,000. These changes would apply to homeowners using their property as a principal residence and require voter approval before implementation.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax relief via exemptions and assessment caps, reducing tax burden on primary residences for homeowners.95% confidence ✓ HousingSupports HousingTax exemption for first $50k of home value reduces property tax burden, increasing affordability for primary residences and aligning with housing affordability goals.75% confidence

Sub-Topics Property Tax Tax Incentives Property Taxes

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

A 272: Increases income eligibility limit for homestead property tax reimbursement program.

This bill raises the income eligibility limit for New Jersey's homestead property tax reimbursement program. It increases the annual income threshold from $80,000 to $160,000 for tax year 2017 (and subsequent years), allowing more seniors (65+) and disabled residents to qualify. The program reimburses eligible homeowners and renters for property tax differences between their base year and current year, based on income and residency requirements. It directly affects low-to-moderate-income residents who own or rent qualifying homes as their primary residence.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax reimbursement eligibility for seniors/disabled, providing relief to middle-income residents by raising income threshold from $80k to $160k.95% confidence ✓ HousingSupports HousingIncreases income eligibility for property tax reimbursement, expanding access to housing cost relief for low-to-moderate-income seniors/disabled residents.95% confidence

Sub-Topics Property Tax Property Taxes Renters

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

A 2444: Increases distribution to municipalities from Energy Tax Receipts Property Tax Relief Fund over two years; prohibits anticipation of certain revenue in municipal budget; requires additional aid be subtracted from municipal property tax levy.

This bill increases annual payments from New Jersey's Energy Tax Receipts Property Tax Relief Fund to municipalities by $15 million (from $740 million to $755 million) over two years. It directly affects most municipalities (excluding those with a municipal purposes tax rate of $0.10 or less per $100) by requiring them to subtract this additional aid from their property tax levies. The bill also prohibits municipalities from anticipating certain revenue when creating annual budgets. These changes aim to provide more direct property tax relief to local governments through the existing fund, which receives energy-related tax revenues.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill increases municipal aid from tax relief fund, requiring subtraction from property tax levies, directly reducing local tax burden for residents.95% confidence

Sub-Topics Property Tax

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

A 518: Establishes New Jersey Property Tax Relief and Education Empowerment Program to provide both property tax relief to citizens and educational grants to certain students enrolled in nonpublic schools.

This bill establishes New Jersey's Property Tax Relief and Education Empowerment Program, providing property tax relief to residents while offering educational grants to eligible students attending nonpublic schools. It directly affects low-income students (households earning ≤3.7x the federal poverty level for a family of four) who previously attended public school for at least 100 days and switch to a participating nonpublic school. The program provides grants equal to 50% of the public school district's per-pupil spending (capped at the nonpublic school's fees), paid directly to the nonpublic school by the student's resident district. This funding reduces the public school district's budget by the grant amount, with the savings used to lower local school taxes in the following year.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides direct property tax relief to low-income households (≤3.7x federal poverty level) while funding educational grants, advancing tax relief and fiscal support for vulnerable residents.95% confidence ✓ EducationSupports EducationProvides educational grants to low-income students attending nonpublic schools, expanding access and funding options for education while targeting disadvantaged students.95% confidence

Sub-Topics Property Tax K-12 Education School Choice

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