NJ A4674

Allows eligible claimants (seniors 65+ and disabled persons) to retain homestead property tax reimbursement eligibility immediately after moving to a new New Jersey homestead, eliminating the current requirement to wait an additional tax year

Changes the base year for calculating reimbursements after relocation to the first full tax year prior to moving into the new homestead, rather than the first full year during residency

Establishes that reimbursement payments will be based on property taxes assessed on the current homestead for the claimant's base year, even if the claimant did not occupy that property at that time

Creates a special rule for new construction homesteads, setting the base year as the first full tax year following completion of construction rather than the year prior to occupancy

Permits property taxes paid by the previous owner of a homestead to count toward the eligible claimant's reimbursement calculation, provided the claimant resides there on December 31 of the tax year claimed