"Senior Citizens Property Tax Deferral Act"; allows certain seniors to defer property tax payments.

This bill would allow eligible New Jersey seniors aged 65 or older with an annual household income under $50,000 to defer property tax payments on their primary residence. To qualify, seniors must own a home valued under $500,000 without a reverse mortgage. The deferral amount is limited to 110% of the previous year's taxes (adjusted for rebates) and cannot exceed 75% of the home's equity, with interest accruing at 9% annually. Payments become due upon the senior's death, sale of the home, or if the home ceases to be their primary residence (with limited health-related exceptions).