New Jersey Assembly Bill A254

New Jersey 2022-2023 Regular Session

• Introduced: 1/11/22
• Refer: 1/11/22

Caption

Permits eligible claimant who is proportionate owner paying entire property tax bill to collect entire homestead property tax reimbursement amount.

Impact

The proposed changes will have significant implications for property owners in New Jersey by simplifying the process for claiming homestead property tax reimbursements. Previously, eligible claimants were limited to receiving reimbursement based on their proportional share of the property taxes paid. By allowing an individual who pays the entire tax amount to claim the full reimbursement, this bill supports financially stressed homeowners who may be solely responsible for tax payments due to personal circumstances like divorce, thereby easing their financial burden.

Summary

Bill A254, introduced in the New Jersey legislature, aims to amend the law concerning homestead property tax reimbursements. Specifically, it allows an eligible claimant—who is a proportionate owner of a residential property and pays the entire property tax bill—to receive the full homestead property tax reimbursement amount, regardless of the involvement of other non-occupying owners. This is crucial for circumstances such as divorce where one party may continue to bear the financial responsibility for the property taxes while an ex-spouse does not reside in the home.

Contention

There may be points of contention regarding how this bill affects shared ownership scenarios, particularly in cases where multiple owners contribute differently to property maintenance and expenses. Opponents may argue that this could lead to inequities among owners who do contribute but rely on the financial support of the paying owner. Additionally, this change may prompt discussions on the broader implications for tax equity and responsibility among owners within shared properties.