Increases gross income tax credit for homestead property taxes paid from $50 to $200.

This bill increases New Jersey's refundable tax credit for homestead property taxes from $50 to $200 annually. It directly affects homeowners and tenants who pay property taxes or rent that includes property taxes on their primary residence (homestead). The key change replaces the current $50 credit amount with $200 in the tax code, allowing eligible taxpayers to receive a larger refund instead of claiming a property tax deduction. The credit applies to residents aged 65+ or those qualifying as blind/disabled under state tax rules, and married couples filing separately each receive half the credit.