ATTENTION SADDLE BROOK SENIORS & RENTERS 65+
NJ DIVISON OF TAXATION PROPERTY TAX RELIEF UPDATE
Some residents may have heard in the last year about a new property tax relief program signed into law by the Governor.
The program is called STAY NJ. It is an additional program to help with property tax relief to certain residents over 65 years of age and income of under $500,000. This program differs from the existing Property Tax Reimbursement – PTR – Senior Freeze with the higher income limit, and you only have to have lived in the home the year prior. If the resident qualifies, they can get 50% of their property taxes back up to a maximum of $6,500.
With the addition of the STAY NJ program, the State of NJ now offers three (3) tax relief programs. The STAY NJ, PTR and the ANCHOR programs.
Starting in 2025 the State will NO longer be mailing out the blue PTR books which residents used to take to the tax collector to complete a portion of the application.
The new process requires a combination application of all three programs. The new application is called PAS-1 and it replaces the prior PTR blue books and the ANCHOR applications. The State will review the information collected on the new application, and the State will determine which program is more beneficial to the resident. It also is dependent on the State funding these programs in their future budgets.
Applications will be mailed to residents who in the past filed for the PTR blue books by March 2025, and an online application will be available. The deadline for filing is still October 31, 2025.
The process does not include anything from the tax collector.
Be patient as this is a new process, and the State is still working on the applications, and the online information.
Who’s Eligible?
NJ residents 65+ or on Social Security Disability in 2024
Homeowners & Renters can apply
No more separate applications for ANCHOR!
Deadline to Apply: October 31, 2025
When will payments start?
Senior Freeze: July 15, 2025
ANCHOR: Starting September 2025
Stay NJ: Quarterly payments beginning 2026
If you’re eligible, expect a mailed application by March 2025 (for 65+ and SSD recipients).