The NJ Division of Taxation has announced that they will begin mailing the 2018 Homestead Benefit applications in mid-September. They advise anyone who requested the application be sent electronically, to be mindful of this date and to check their email’s junk folders.
The Fiscal Year 2022 Appropriations Act passed in June calculates the benefit using 2017 property tax assessments, replacing the previous 2006 assessment. This switch is anticipated to increase the average estimated credit or payment to senior and disabled taxpayers by $130 and the average benefit for lower-income homeowners by $145. The Division is also reminding those eligible for the Senior Freeze that the deadline to file an application is November 1, 2021. The Division began mailing approved 2020 payments on July 15, 2021.
Applications and more information on the Senior Freeze program can be found on the Division’s website.