The state of New Jersey has mailed over 125,000 checks for its “Senior Freeze” property tax program — and that’s just the beginning. The Garden State has announced that more checks could hit 58,000 additional households soon. This could provide relief for older adult residents who live in one of the most expensive states for homeowners.
Let’s look at this program to see if you qualify for property tax relief.
What is the New Jersey ‘Senior Tax Freeze’ program?
Despite its name, the “Senior Freeze” program does not actually “freeze” your property taxes. Rather, the program reimburses eligible New Jersey residents for any property tax increases once they're enrolled. The program accomplishes this by locking your property tax in the year you enroll.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
What are the requirements for the 'Senior Tax Freeze' in NJ?
You are eligible for Senior Freeze if you are 65 or older as of Dec. 31, 2022, or on Social Security disability payments on Dec. 31, 2022 and Dec. 31, 2023.
Only property taxes for a primary residence or mobile home park site fees are included in the tax break program.
Additional eligibility requirements are as follows:
- You must be a New Jersey resident
- You must own and live in your home or mobile home since at least December 31, 2019
- You must pay your property taxes by June 1 of the following year or pay your mobile home fees by December 31 of each year
- Your total annual income must have been $150,000 or less for 2022, and $163,050 or less for 2023
For purposes of this program, your “income” includes taxable pension and annuity payment amounts, including IRA withdrawals and all unemployment benefits you receive. Some exclusions or other income limits may apply.
What is excluded from the NJ tax relief program?
There are several exclusions to the Senior Freeze.
- For example, vacation homes and secondary homes are not eligible for reimbursement.
- Additionally, property you rent from someone else doesn’t qualify for this program.
- Property with a commercial unit on it or property with more than four units may also be ineligible.
For more eligibility information, visit the New Jersey Division of Taxation website.
How do I check my NJ Senior Freeze status to get my check?
If you haven’t filed for your check, there is still time. The NJ Senior Freeze due date to apply for the 2023 tax year is October 31st, 2024. You can file by mail or apply for the NJ Senior Freeze online. If you are unsure if you qualify, you can also try the New Jersey Treasury’s online quiz.
Also worthy of note: NJ Senior Freeze checks will be mailed. Direct deposit is not an option.
To learn more about how Senior Freeze is calculated or if you have questions about your NJ Senior Freeze status, you can call the Senior Freeze Property Tax Reimbursement Information Line at 1-800-882-6597.
Related Content
-
How a Financial Adviser Can Help You Sleep at NightWhen it comes to your money and planning for your retirement, legacy and more, you might need a professional to help you stay on top of it all.
-
Debunking the Myth of the Silver SpoonJust because your family is wealthy doesn't mean life's all smooth sailing for your kids. When family dynamics are complicated, communication is key.
-
Adoption Tax Credit 2024: What You Need to KnowTax Credits The federal adoption tax credit is slightly higher for 2024. Here’s what you can claim under the tax break designed to help grow your family.
-
New 2025 Estate Tax Exemption AnnouncedEstate Tax The IRS just increased the exemption as we enter what could be the final year of TCJA.
-
New 2025 Child Tax Credit Announced: How Much Is It?Family Tax Credits Explore the new IRS-adjusted amounts for popular family tax credits.
-
The 2025 Standard Deduction Is HereTax Breaks What is the standard deduction for your filing status in 2025?
-
Three Ways to Avoid the Mansion TaxProperty Tax Some homebuyers have found creative loopholes around the mansion tax, but are they legal?
-
Three Creative Ways to Lower Your Retirement TaxesTax Tips You can apply key minimalism concepts for potential tax savings. Here’s how.
-
States That Offer a Child Tax Credit in 2024Child Tax Credit Fifteen states plus the District of Columbia currently offer a child tax credit. Here’s how much you can get.
-
Three Tax Reasons to Retire in PanamaRetirement Taxes With low property taxes and tax-free foreign income, this tropical paradise could make you rethink retirement as a U.S. expat.
