Understanding the Stay NJ Program
The Stay NJ program is a New Jersey initiative aimed at providing significant property tax relief to eligible senior homeowners, addressing concerns about the state's high cost of living. For the 2024 tax year, eligible seniors can receive a benefit of up to 50% of their property taxes, capped at $6,500. This program works in conjunction with existing relief programs like ANCHOR and Senior Freeze, and a new unified application, PAS-1, is available for seniors and those with disabilities to apply for all three simultaneously. Stay NJ expands income eligibility, aiming to assist a broader spectrum of senior homeowners.
Eligibility Requirements: Who Qualifies?
To qualify for the Stay NJ program, applicants must meet specific age, residency, and income criteria. Eligibility criteria include being 65 or older, having owned and occupied a New Jersey home as the primary residence for the entire 2024 calendar year, and having a 2024 gross income of $500,000 or less. The program is for homeowners only, not renters or mobile homeowners. Some sources suggest eligibility may also extend to those receiving Social Security Disability benefits. An application can be filed for a deceased relative who met the criteria.
How the Stay NJ Benefit is Calculated
The Stay NJ benefit is integrated with other New Jersey property tax relief programs, ensuring total relief does not exceed 50% of the property tax bill, up to the maximum. ANCHOR and Senior Freeze benefits are determined first. Then, 50% of property taxes (up to $13,000) is calculated, with a potential Stay NJ benefit up to $6,500 for 2024. If combined ANCHOR and Senior Freeze are less than the calculated Stay NJ amount, a Stay NJ payment covers the difference; otherwise, no additional Stay NJ payment is issued.
The Simplified Application Process (PAS-1)
A combined PAS-1 application is available for seniors and those with Social Security Disability benefits to apply simultaneously for Stay NJ, ANCHOR, and Senior Freeze. Application can be done online via the NJ Division of Taxation website (requires ID.me verification) or by mail using a paper form. Required documents include proof of identity (online), property tax details, and gross income information.
Stay NJ vs. Other Property Tax Relief Programs
Stay NJ provides property tax relief with broader income eligibility for seniors. A comparison table highlights key differences:
| Feature | Stay NJ | ANCHOR Program | Senior Freeze |
|---|---|---|---|
| Target Audience | NJ homeowners 65+ with income under $500k | NJ homeowners/renters under age 65 (income limits apply) | NJ seniors/disabled homeowners (long-term residency) |
| Benefit | Up to $6,500 cap (2024 tax year) | Variable amounts based on income and residency status | Reimburses tax increases over a base year |
| Eligibility | Age 65+ and income under $500k | Income under $250k (homeowners) or $150k (renters) | Age 65+ or disabled, long-term residency, stable or reduced income |
| Benefit Calculation | Applied after ANCHOR and Senior Freeze benefits are considered | Calculated independently | Based on comparison of base year taxes to application year taxes |
| Application | Via combined PAS-1 form for seniors | Via combined PAS-1 form (for seniors) or separate process | Via combined PAS-1 form for seniors |
Important Dates and Payment Schedule
Key dates include an application deadline of typically October 31, 2025, for the 2024 tax year benefit. Payments for the 2024 tax year are expected quarterly starting in early 2026, subject to the state budget.
Conclusion: Making Informed Decisions for Your Future
The Stay NJ program offers significant property tax relief to help New Jersey seniors afford to stay in their homes. The combined PAS-1 application simplifies access to Stay NJ, ANCHOR, and Senior Freeze benefits. Understanding the eligibility criteria, how benefits are calculated, and application deadlines is key to utilizing this program. For the most current information, refer to official sources like the {Link: Official NJ Treasury Department website https://www.nj.gov/treasury/taxation/}.
