Increases income eligibility limit for homestead property tax reimbursement program.

S 2716 increases New Jersey's income eligibility limit for the homestead property tax reimbursement program to $160,000 for tax year 2021, up from $92,969 in 2020. The program reimburses eligible seniors (65+ years) and disabled residents for property tax increases above their "base year" tax amount on their primary residence. To qualify, applicants must own or lease a homestead (including mobile homes), have paid property taxes or rent on their primary residence for at least 10 consecutive years, and meet the income limit. This change expands access to the program for more middle-income homeowners and renters who meet the residency and ownership requirements.