"Homestead School Property Tax Reimbursement Act"; provides State reimbursement for 50% of school property taxes paid by seniors, 65 years and older.

This bill, S 91 ("Homestead School Property Tax Reimbursement Act"), provides a 50% reimbursement for the school portion of property taxes paid by eligible seniors. It directly affects New Jersey residents aged 65 or older who own or lease a primary residence (including single-family homes, condos, mobile homes in parks, or cooperative units) and meet income limits: $35,000 or less in the first year, $75,000 in the second year, and no limit thereafter. The reimbursement covers half of the school tax portion on qualifying homesteads, excluding interest or penalties. It does not apply to secondary residences or properties rented out. The bill is currently pending in the Senate Community and Urban Affairs Committee.