NJ SCR89

Proposes a constitutional amendment to increase the annual income limit for the senior and disabled property tax deduction from $10,000 to $15,000, effective in 2023.

Eligibility requires property owners to be 65 years or older, or permanently and totally disabled under the Federal Social Security Act, and reside in their owned dwelling.

The current $10,000 income limit has not been increased since 1983, when voters approved raising it from $9,000.

Income from Social Security, federal retirement programs, and state pension programs is excluded from the income calculation when determining eligibility.

If approved by the Legislature, the amendment would be submitted to voters at a general election occurring more than three months after final legislative agreement.