Governor Seeks Property Tax Relief for Seniors

EDISON – Asserting that the state must do everything possible to provide relief to struggling New Jerseyans, Gov. Jon S. Corzine on Friday, Nov. 21 advocated the expansion of the Senior Freeze program, noting new changes will provide an additional 70,000 seniors with a property tax reimbursement averaging $1,000.
“The financial crisis has intensified some of the undue pressures faced by our senior community, most of whom are living on fixed incomes,” Corzine stated in a release made during his visit to the Edison Senior Center. “New Jersey is taking steps to ease that strain by expanding the property tax reimbursement program to help our seniors financially and keep them in their homes.”
The governor proposed increasing the cap of the Senior Freeze program over three years to $80,000 from its current ceiling of approximately $53,000. This expansion is expected to assist an estimated 70,000 additional senior citizens with a reimbursement of their property taxes paid.
Under the Senior Freeze program, qualifying seniors and disabled citizens are directly reimbursed by the State for the difference between the amount of local property taxes paid in the “base year,” (the year applicants became eligible and first filed for the program) and the amount of property taxes paid for the reimbursement year.
Currently, there are 132,000 eligible recipients throughout the state.
Corzine announced a plan yesterday to temporarily defer 50 percent of next April’s pension payment all municipalities and counties are required to pay into the pension system. Doing so will dramatically reduce the pressure on property taxes during the current economic downturn.
“The last thing our seniors need right now is property tax pressure,” added Corzine. “By extending our property tax reimbursement program, we’re creating a bridge to help senior homeowners get through this national recession.”