Sometimes being “Frozen” isn’t a Bad Thing!

John Clark |

If there’s one thing we can all agree on, property taxes in New Jersey are really high. In fact, according to the latest Rocket Mortgage* study, we are number one!  So let’s talk about something you may have not heard about, that’s available for NJ seniors!


Property tax relief, especially the property tax freeze in the state of New Jersey, can be a significant bonus for homeowners. Here are three essential steps to understanding and potentially benefiting from the property tax freeze program in New Jersey**:


Step 1: Determine Eligibility

- Review Your Age and Income: The property tax freeze is primarily designed for senior citizens and disabled individuals. To qualify, you typically must be at least 65 years old or receiving federal Social Security disability benefits.

- Assess Your Residency: You must be a New Jersey resident and have lived in your current home for a minimum of one year to be eligible for property tax relief.

- Verify Your Property Value: Your property's assessed value must fall within the program's established limits to qualify. The limits vary by county.


Step 2: Understand the Benefits

- Freeze Your Property Taxes: Once you meet the eligibility criteria, the property tax freeze program will "freeze" your property taxes at the current level. This means that your property taxes may not increase as long as you remain eligible.

- How It Works: The state will pay the difference between your current property taxes and the amount you paid the year you first became eligible for the program. This difference is covered by the state's Property Tax Reimbursement Program, commonly known as "Senior Freeze."


Step 3: Application and Renewal Process

- Gather Required Documents: To apply for property tax relief, you'll need various documents, including proof of age, income, and residency. Consult the official New Jersey Division of Taxation website for a detailed list of required documents.

- Complete the Application: The state provides an annual application form for the property tax freeze program. You must fill out this form accurately, including all necessary documentation, and submit it by the specified deadline.

- Keep Renewing: It's essential to renew your application every year to continue receiving property tax relief. Missing the renewal deadline could result in losing the benefits of the program.


Remember, the property tax freeze program in New Jersey is subject to change, and eligibility criteria may be adjusted over time. Staying informed about the latest updates and seeking assistance from a professional can be invaluable in navigating the complexities of property tax relief in the state.  Clark Associates is not providing tax advice specific to you. See the New Jersey division of taxation for more information!