Proposes constitutional amendment eliminating cap on certain benefits to qualify for senior and disabled citizens' $250 property tax deduction.
Impact
If enacted, this amendment would provide significant financial relief to a larger number of seniors and disabled persons in New Jersey. By allowing the exclusion of retirement and disability benefits—regardless of their amounts—from the income limit, the bill addresses a potentially restrictive factor that has previously disqualified many eligible individuals. As a result, more citizens could qualify for the $250 property tax deduction, easing their overall tax burden and improving financial stability for individuals living on fixed incomes.
Summary
ACR106, introduced in the New Jersey Assembly, proposes a constitutional amendment aimed at amending the property tax deduction eligibility criteria for senior citizens and disabled individuals. The resolution seeks to eliminate the existing income cap on certain benefits that currently restricts eligibility for a $250 property tax deduction. Under the existing law, individuals must have an income not exceeding $10,000 to qualify, with only limited exclusion for specific retirement and disability benefits. The amendment intends to lift this cap, allowing these benefits to be fully excluded from income calculations, thus broadening access to the deduction for more residents.
Contention
The discussions surrounding ACR106 may involve various points of contention regarding its implications. Advocates of the amendment emphasize the necessity of adapting to the rising costs of living, allowing seniors and disabled individuals to retain more of their financial support. On the other hand, critiques may center around the fiscal impact on state revenues and whether the amendment could motivate more inclusions of benefits that potentially create budgetary strain. As the proposition calls for a change in the state constitution, it may require thorough examination regarding its long-term implications for tax policy and aid for vulnerable populations.
Carry Over
Proposes constitutional amendment eliminating cap on certain benefits to qualify for senior and disabled citizens' $250 property tax deduction.
Proposes constitutional amendment to increase annual income limitation for eligibility to receive property tax deduction for senior and disabled citizens.
Proposes constitutional amendment to increase annual income limitation for eligibility to receive property tax deduction for senior and disabled citizens.
Proposes constitutional amendment to increase annual income limitation for eligibility to receive property tax deduction for senior and disabled citizens.
Proposes constitutional amendment to increase annual income limitation for eligibility to receive property tax deduction for senior and disabled citizens.
Proposes constitutional amendment to increase annual income limitation for senior and disabled citizens' $250 property tax deduction and bases future annual limitations on annual CPI changes.
Proposes constitutional amendment to increase annual income limitation for senior and disabled citizens' $250 property tax deduction and bases future annual limitations on annual CPI changes.
Proposes constitutional amendment to exclude military disability income from the $10,000 income limit for eligibility for the senior citizens and disabled persons property tax deduction.
Proposes constitutional amendment to exclude military disability income from the $10,000 income limit for eligibility for the senior citizens and disabled persons property tax deduction.
Proposes constitutional amendment to exclude military disability income from the $10,000 income limit for eligibility for the senior citizens and disabled persons property tax deduction.