spot_img

Property Tax Break For Seniors Extended

Date:

Share post:

- Advertisement -

If you, or a senior citizen that you know, participates in New Jersey’s “Senior Freeze” property tax program and missed the June 1 filing deadline, you’re in luck: The state has extended the filing deadline until August 2.

The Freeze is a separate program from the state’s byzantine property tax rebate effort, which was given a bit of a makeover when the budget was passed. When a senior submitted a Freeze application, it set a baseline property tax on his or her property. In subsequent years, the state paid the difference between the baseline and the property tax increase. This year, the state sent out 109,000 checks to eligible seniors and the disabled, with an average amount of just over $1,100.

The checks that will come from this year’s applications will come with a catch (Natch!): 2010 Freeze payments have been frozen at 2009 levels. Whether they will be unfrozen in the future is anybody’s guess right now.

- Advertisement -

If you weren’t in the program before, you can also submit an application by August 2, but there’s a catch with that too: New Jersey doesn’t have any money for new applicants. A spokesman for the state Treasury Department says it still makes sense to apply now because, when the state does get new funding, an applicant’s property tax baseline will have already been established. To get an application or learn more, click here.

And if all this weren’t confusing enough, the Homestead property tax rebate program has been changed into a tax credit under the new state budget. And rather than going out at election time (coincidence?), the credits will be applied to every quarterly tax bill, beginning in May 2011.

Print Friendly, PDF & Email
- Advertisement -
Virginia Citrano
Virginia Citranohttps://myveronanj.com
Virginia Citrano grew up in Verona. She moved away to write and edit for The Wall Street Journal’s European edition, Institutional Investor, Crain’s New York Business and Forbes.com. Since returning to Verona, she has volunteered for school, civic and religious groups, served nine years on the Verona Environmental Commission and is now part of Sustainable Verona. She co-founded MyVeronaNJ in 2009. You can reach Virginia at [email protected]

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

New Rules For Municipal Lot Parking Permits

Verona has two municipal parking lots with spots reserved for permit holders and if you need one for...

Castle In The Backyard

I've lived in the same town for all of my life. (Pretty boring right?) For the majority...

Fire Truck Santa December 11

The Verona Fire Department will be driving Santa around the streets of Verona on Sunday, December 11. VFD members...

Real Estate: 3 New Listings, 4 Open Houses, 3 Price Changes

For the third week in a row, there are three new listings in Verona real estate. But there...
error: Content is protected !!