Increases income eligibility limit for homestead property tax reimbursement program.

This bill would double the income eligibility limit for New Jersey's homestead property tax reimbursement program from $80,000 to $160,000 for both single and married applicants, effective for tax year 2017. The program provides property tax reimbursement to seniors (65+) and disabled residents who own or rent a primary home and have paid property taxes for 10+ consecutive years. By raising the income threshold, the bill allows more qualifying low-to-moderate income residents to receive reimbursement for property tax increases above their "base year" amount. It directly affects eligible seniors and disabled homeowners and renters statewide who currently exceed the $80,000 income limit.