What’s Stay NJ?
The Stay NJ program, expected to launch in early 2025, offers property tax benefits to eligible homeowners aged 65 and older. It reimburses applicants for 50% of their property tax bills, up to a maximum of $13,000, with a 2024 benefit cap of $6,500. To qualify, you must have owned and lived in your home for the full 12 months of 2024 and have an income below $500,000. Mobile homeowners are not eligible.
Stay NJ benefits are calculated after ANCHOR and Senior Freeze benefits are determined. Payments are expected to be issued in early 2026.
Eligibility requirements, including income limits, and benefits available for all Property Tax Relief programs are subject to change by the State Budget.
Applications:
Applicants will submit a single application to claim benefits from Senior Freeze, ANCHOR, and the new Stay NJ program. The combined Property Tax Relief application will begin mailing in February 2025, with online filing also available. Eligibility for this benefit is based on residency, income, and age as of 2024.
See Property Tax Relief for more details on the new combined application.
Filing Deadline:
The deadline to file is October 31, 2025.
Learn more at NJ.gov:
Advisory Services are offered through MRA Advisory Group, a Registered Investment Adviser. It is general in nature that the statements herein are not a complete statement of all information necessary for making an investment decision and is not a recommendation or a solicitation to buy or sell any security. The investments and strategies mentioned may not be suitable for all investors. Past performance is no guarantee of future results. Nothing herein, nor any attachment, shall be considered to constitute (i) an offer to sell, nor a solicitation of an offer to purchase, any security, or (ii) tax or legal advice.