NJ A4644

Expands Stay NJ property tax credit eligibility to include seniors age 65+ who relocate from one New Jersey homestead to another during the tax year, provided they maintain continuous homeownership of at least one homestead throughout the entire year.

Calculates the Stay NJ credit for relocating homeowners based on the property taxes paid during the portion of the tax year they owned and occupied each homestead as their principal residence.

Stay NJ provides eligible claimants a credit equal to 50% of property taxes on their principal residence, capped at $6,500 for tax year 2026 with annual adjustments based on average property tax increases.

Current law disqualifies residents who move between homesteads during the tax year; this bill removes that barrier while maintaining other eligibility requirements including income below $500,000.