"Homestead School Property Tax Reimbursement Act"; provides State reimbursement for 50% of school property taxes paid by seniors, 65 years and older.

This bill, the "Homestead School Property Tax Reimbursement Act," would provide New Jersey seniors aged 65 or older with a 50% reimbursement for the school portion of their property taxes on their primary residence. It phases in eligibility through income limits: $35,000 or less in the first year, $75,000 in the second year, and no income limit thereafter. Surviving spouses aged 55 or older who remain in the same home also qualify. Reimbursements would be funded from the Casino Revenue Fund and require annual applications by December 31.