Monday, April 20, 2009

THIS JUST IN - NEW JERSEY 2007 SENIOR FREEZE APPLICATION EXTENDED

I just discovered this information from the NJ Division of Taxation website.

Senior and disabled residents who qualify for a 2007 property tax reimbursement because of the recent increase in income limits for the Senior Freeze (Property Tax Reimbursement) Program now have until June 1, 2009, to file applications, Governor Jon S. Corzine announced today. The original deadline for the newly eligible applicants to file their 2007 applications was March 31, 2009.

Governor Corzine signed the legislation to expand the income limits of the Senior Freeze Program in December as part of his New Jersey economic assistance and recovery package. The first phase of the expansion increased the income eligibility limits for 2007 from about $45,000 for single applicants and approximately $55,000 for married/civil union couples to $60,000 for all applicants.
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As a result of the increase in the income limit for 2007, some senior and disabled New Jersey residents who did not previously qualify became eligible to apply for a reimbursement. The amount of the Senior Freeze reimbursement would be the difference between property taxes paid for the first year the applicant met all the eligibility requirements, and the property taxes for the reimbursement year.

The expansion of the Senior Freeze Program significantly increases income eligibility limits for seniors and disabled citizens for the next two tax years as well. The income limits increased to $70,000 for tax year 2008 and will increase to $80,000 for tax year 2009. The deadline for filing applications for the 2008 tax year is also June 1, 2009
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It doesn’t surprise me. Each year NJ sets initial deadlines for the Property Tax Reimbursement and NJ Homestead Rebate applications - which are always eventually extended until October.

Click
here to read the entire press release.

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