Voter approval would tie property tax deduction income limits to poverty guidelines

New Jersey would replace the fixed $10,000 income limit with a limit updated each year. It covers eligible homeowners age 65 or older or with a permanent and total disability under Social Security rules, plus certain surviving spouses. Recipients must be citizens and New Jersey residents. Lawmakers and voters must approve the amendment. Lawmakers must choose by law which federal poverty guidelines apply. The yearly updates would begin in 2027.

New Jersey would remove the cap on how much of these benefits can be left out of income. The change covers certain federal, state, and local government retirement or disability benefits paid instead of Social Security. Lawmakers and voters must approve the amendment. Other income must stay within the deduction’s income limit.