Increases annual income limitation to receive senior and disabled citizens' property tax deduction to $15,000.

This bill increases the annual income limit for New Jersey seniors (65 or older) and disabled citizens (permanently and totally disabled) to qualify for a $250 property tax deduction from $10,000 to $15,000. Currently, the $10,000 limit applies to 2022 and prior years, but the bill would raise it to $15,000 for 2023 and beyond. The change requires voter approval of a constitutional amendment before taking effect. The deduction amount itself remains capped at $250 annually.