Deadline for Senior Property Tax Freeze Fast Approaching

OCEAN TOWNSHIP - The Senior Property Tax Reimbursement program (or “Senior Freeze”) allows eligible seniors to obtain a reimbursement for any property tax increases that take place after they enter the program - and the deadline for 2018’s reimbursement is right around the corner.

With applications for the 2018 Senior Freeze due by October 31 of this year, Assembly Members Eric Houghtaling and Joann Downey are reminding all qualifying Monmouth County seniors to submit their applications before the deadline to make sure that they receive reimbursement for any of last year’s tax increases.

“The Senior Freeze goes year-by-year, which can be a big help to seniors who see their property taxes increase from one year to the next,” said Houghtaling (D-Neptune). “Property taxes are increasingly unaffordable for local seniors, especially those on a fixed income, which is why these tax relief programs are so important. That’s why we want to make sure that every qualifying senior can get their application in on time - to make sure that everyone gets the property tax relief they deserve.”

“If you have any questions about the Senior Freeze application or deadline, or if you’d like to learn more about the program or receive an application of your own, you can call our office at (732) 695-3371,” said Downey (D-Freehold). “Our Constituent Services staff have a wealth of experience in assisting seniors with this and other state programs, and we’d be happy to help you fill out or receive your application as needed.”

Currently, eligible seniors and disabled persons may apply for a senior freeze benefit that reimburses them, by check for any property tax increases paid in the prior tax year over and above the amount of property taxes paid in the year that the applicant first entered the program (their “base amount”). Applicants for the Senior Freeze must be over the age of 65 and must make no more than $89,013 annually to qualify.

Recipients of the Senior Freeze must continue to file each year by the filing deadline in order to receive reimbursement and to maintain their base year property tax amount.

Earlier this summer, Houghtaling and Downey successfully removed a “cap” that had been used to hold the Senior Freeze income ceiling at $70,000 for the past several years, allowing the ceiling to rise to its current level of $89,013. The FY2020 state budget also adds an additional $18 million in new funding to the cost-saving program.

Houghtaling and Downey have also introduced legislation (A-4658) that would transform the Senior Freeze program from a reimbursement to a tax credit. Currently, the program only reimburses homeowners with a check after they’ve already paid a higher tax rate. Under the new bill, the program would refund seniors’ tax credits right away, avoiding months of waiting and cutting administrative costs to save taxpayer dollars.

“If you’re a senior past or approaching retirement, we know that you’ve worked hard to earn a living,” Houghtaling said. “Our job is to work just as hard to make sure that you’re able to keep and enjoy what you’ve earned.”

“You have a right to stay in the home that you love,” Downey added, “and we’re committed to fighting to make that happen.”