Budget & Taxes (Property Tax)

in committee · New Jersey · Senate Jan 13, 2026

S 2521: Permits taxpayers to deduct the 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 primary home from their state income tax bill, removing a previous $15,000 annual cap. It applies to homeowners and renters of residential properties, with income-based limits: taxpayers earning over $150,000 but under $250,000 face a $5,000 deduction limit, while higher earners ($250,000+) are ineligible unless they qualify as elderly or disabled. The deduction covers property taxes paid during the calendar year and aligns with existing tax code provisions for primary residences. The bill amends New Jersey's Gross Income Tax Act to implement this change, effective for the 2026 tax year.

Topics ✓ Budget & TaxesSupports Budget & TaxesRemoves $15k cap on property tax deductions, providing tax relief for homeowners (especially middle-income), aligning with tax relief indicators for Budget & Taxes.95% confidence

Sub-Topics Income Tax Property Tax

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in committee · New Jersey · Senate Jan 13, 2026

SCR 36: Provides for special session of Legislature to consider property tax relief and reform.

SCR 36 is a procedural resolution calling for a special session of the New Jersey Legislature focused solely on property tax relief and reform. It directs the presiding officers of both houses to convene the session within seven days of the resolution's passage, requiring them to consider bills submitted by both majority and minority leaders on this specific issue. This resolution does not change tax law itself but sets up a dedicated legislative process to address high property taxes, which the resolution states disproportionately impact elderly, young, and low-income residents. The special session would develop and vote on potential tax relief measures.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill explicitly calls for special session focused on property tax relief and reform, directly addressing high property taxes to provide relief for taxpayers.95% confidence

Sub-Topics Property Tax Sales Tax

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in committee · New Jersey · Senate Jan 13, 2026

SCR 53: Proposes constitutional amendment to give $250 property tax deduction to law enforcement officers who have sustained permanent disability.

This proposed constitutional amendment would create a $250 annual property tax deduction for New Jersey law enforcement officers who have a permanent disability directly caused by their job. It would apply to the primary residence of eligible officers, including properties in cooperatives or mutual housing. Surviving spouses aged 65+ who remain unmarried and live in the same home would also qualify for the deduction after the officer's death. The Legislature would need to define "law enforcement officer" through future legislation.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates $250 property tax deduction for law enforcement officers with disabilities, providing targeted tax relief and reducing state tax revenue for eligible taxpayers.95% confidence

Sub-Topics Property Tax

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in committee · New Jersey · Senate Jan 13, 2026

S 1568: Requires State reimbursement to municipalities of cost of disabled veterans' total property tax exemption.

This bill requires New Jersey to reimburse local municipalities 102% of the property tax costs they incur when granting total property tax exemptions to disabled veterans. It directly affects municipalities that provide these exemptions under existing law (P.L.1948, c.259), which currently absorb the cost of the exemption. Key provisions include annual certifications by tax assessors (by June 1) and county boards (by June 15) detailing the number and dollar amount of exemptions granted, with the state using this data to calculate reimbursements. The bill also amends tax reporting rules to separately track these exemptions in county tax tables without including them in the taxable property base. This ensures municipalities aren’t financially burdened by the exemption program while maintaining transparency in tax administration.

Topics ✓ Budget & TaxesSupports Budget & TaxesState mandates reimbursement to municipalities for disabled veterans' tax exemptions, increasing state budget outlay for fiscal responsibility.95% confidence ✓ VeteransSupports VeteransMandates state reimbursement for municipalities' costs of disabled veterans' property tax exemptions, ensuring continued benefit without local financial burden.95% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New Jersey · Senate Jan 13, 2026

S 1833: Eliminates Energy Tax Receipts Property Tax Relief Aid and Consolidated Municipal Property Tax Relief Aid; establishes Municipal Property Tax Relief Fund.

This bill replaces New Jersey's existing Energy Tax Receipts Property Tax Relief Aid and Consolidated Municipal Property Tax Relief Aid programs with a new "Municipal Property Tax Relief Fund." Starting in fiscal year 2026, the fund will receive annual payments from energy utility sales taxes, corporation business taxes on utilities, and other specified sources, totaling approximately $1.455 billion in 2026 (adjusted annually for inflation). Municipalities will receive payments based on a formula considering population, income, property values, and other community factors, with a guarantee that no municipality receives less than what it received in 2024 (or 2025 for those using a state fiscal year). The bill directly affects all New Jersey municipalities by changing how they receive state-funded property tax relief.

Topics ✓ Budget & TaxesSupports Budget & TaxesReplaces existing property tax relief programs with a new fund using tax revenues ($1.455B FY2026) to provide ongoing municipal tax relief, directly supporting tax relief for residents.95% confidence

Sub-Topics Property Tax

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in committee · New Jersey · Senate Jan 28, 2026

SCR 74: Proposes constitutional amendment to limit assessment of homestead real property, and allow exemption on up to $50,000 of home's value.

SCR 74 proposes a constitutional amendment to provide property tax relief for New Jersey homeowners. If approved by voters, it would limit annual increases in the assessed value of a primary residence (homestead property) to the lower of 3% or the Consumer Price Index. It would also require a full tax exemption on the first $25,000 of a home's assessed value and an exemption from non-school property taxes on the next $25,000, resulting in tax relief on up to $50,000 of a home's value. This amendment would apply to all homeowners who live in their property as their main residence.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax relief via $50k exemption for homeowners, directly reducing tax burden on middle-income residents - clear tax relief measure.90% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New Jersey · Senate Jan 13, 2026

S 734: Establishes public awareness campaign and call center for certain property tax relief programs; requires submission of annual report by Stay NJ Task Force.

This bill creates a public awareness campaign and call center to help New Jersey residents access property tax relief programs. It directly affects eligible homeowners and tenants who qualify for six specific programs, including the Stay NJ Credit, ANCHOR, Homestead, and senior/disabled tax deductions. The campaign will explain eligibility, application steps, and required documents through media and online channels, while the call center provides real-time assistance in English and three other common languages. The bill also requires the Stay NJ Task Force to submit an annual report on program administration.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill facilitates access to existing property tax relief programs (Stay NJ, Homestead, etc.), directly providing tax relief to eligible homeowners/tenants.90% confidence ✓ HousingSupports HousingBill facilitates access to property tax relief programs (Stay NJ, ANCHOR, Homestead) that reduce housing costs for eligible homeowners/tenants, directly advancing affordability.85% confidence ✓ ImmigrationSupports ImmigrationBill creates awareness campaign for Stay NJ Credit, a state tax relief program specifically for eligible immigrants, directly providing access to immigrant services.95% confidence

Sub-Topics Property Tax Property Taxes

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in committee · New Jersey · Senate Jan 13, 2026

S 204: Expands eligibility for disabled veterans' property tax exemption to include certain individuals with close personal relationship to deceased veteran.

S 204 expands New Jersey's disabled veterans' property tax exemption to include certain individuals who had a close personal relationship with a deceased veteran, such as long-term partners who lived with the veteran for three years. The bill requires applicants to prove shared residence, joint financial responsibility (e.g., joint bank accounts or property ownership), and submit an affidavit with supporting documents. This allows these individuals to claim the exemption on the veteran's home if they are the legal owner and occupant. The change applies to veterans who die after the bill's effective date, broadening eligibility beyond traditional surviving spouses.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands property tax exemption, providing tax relief for eligible individuals without increasing state revenue burden.95% confidence ✓ VeteransSupports VeteransExpands disabled veterans' property tax exemption to include long-term partners of deceased veterans, directly advancing benefit eligibility and recognition.95% confidence

Sub-Topics Property Tax Tax Incentives Veteran Housing

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in committee · New Jersey · Senate Jan 13, 2026

S 1278: Exempts from property taxation real property privately owned and leased to certain public entities for public purposes.

This bill exempts privately owned buildings and land from property tax when leased to New Jersey's state, county, or municipal governments (including schools and agencies) for qualifying public purposes. It directly affects private property owners who lease space to public entities, removing their property tax obligation during the lease term. Key provisions define "public purposes" to include government operations, stadiums, historical exhibits, school leases to nonprofits, and municipal property acquired through tax foreclosure (if not used privately). The exemption applies only while the property is used for these public purposes under the lease agreement. The bill amends existing tax law to clarify this exemption, effective immediately upon enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts private property leases to public entities from property tax, providing tax relief per bill's explicit language.95% confidence

Sub-Topics Property Tax

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in committee · New Jersey · Senate Jan 13, 2026

S 277: Increases amounts of property tax deductions for senior citizens and persons with disabilities, and veterans, from $250 to $500.

This bill increases the annual property tax deduction for eligible senior citizens (65+), persons with disabilities, and veterans from $250 to $500, effective 2024. It directly affects New Jersey residents in these categories who own or occupy qualifying property and meet income limits. The key change modifies two existing laws (P.L.1963, c.171 for veterans and c.172 for seniors/disabled) to raise the deduction amount, while requiring a constitutional amendment approval before taking effect. The deduction will cover up to $500 of property tax annually or the full tax amount if lower.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases property tax deductions for seniors/disabled/veterans, providing direct tax relief to qualifying low-to-moderate income residents.92% confidence ✓ VeteransSupports VeteransIncreases veterans' property tax deduction from $250 to $500, directly expanding financial benefits for eligible veterans.95% confidence

Sub-Topics Property Tax

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