Includes payments in lieu of property taxes eligible as property taxes under the homestead property tax reimbursement program.

This bill would amend New Jersey's homestead property tax reimbursement program to include payments in lieu of property taxes (PILOT) as eligible payments for the program. Currently, only property owners who pay actual property taxes qualify for the program, which helps seniors and disabled residents with property tax burdens. The bill would extend eligibility to large property owners like hospitals, universities, and other tax-exempt entities that pay PILOTs instead of traditional property taxes. This change would directly affect these entities by making them eligible for tax relief they currently cannot access. The policy change would make the program more inclusive for certain property owners seeking tax relief.