Freezes property taxes on primary residences of homeowners 65 years of age and over.

ACR 37 proposes a constitutional amendment to freeze property taxes on the primary residences of New Jersey homeowners aged 65 or older. It would stabilize taxes at the current level when the owner turns 65 or acquires a home at 65+, requiring annual application to maintain the freeze. The freeze continues for surviving spouses aged 65+ who keep the home as their primary residence but ends if the property transfers to a new owner or stops being used as a primary residence. Unlike the current system - which requires income-based reimbursements for tax increases - this amendment would automatically freeze taxes for all qualifying homeowners regardless of income. The amendment must be approved by voters to take effect.