New Jersey Senate Bill SCR33

New Jersey 2022-2023 Regular Session

• Introduced: 1/18/22
• Refer: 1/18/22

Caption

Proposes constitutional amendment granting property assessment reductions for certain improvements to dwelling houses to provide living-quarters for senior citizen relatives.

Impact

If enacted, SCR33 will amend Article VIII, Section I of the New Jersey Constitution. This change will require tax assessors to reduce the assessed value of a homestead property based on the increase attributable to any construction or reconstruction aimed at accommodating senior relatives. The bill underscores a commitment to supporting families that care for elderly relatives and aims to alleviate the financial burden associated with property tax increases due to home modifications.

Summary

Senate Concurrent Resolution No. 33 (SCR33) proposes a constitutional amendment to allow for property assessment reductions for homeowners who construct or reconstruct their homes to create living quarters for senior citizen relatives. Specifically, the bill targets improvements made for natural or adopted parents, grandparents, aunts, or uncles of the homeowners, provided that at least one of the relatives is 62 years or older. The amendment aims to promote the addition of senior living spaces in family homes by making financial provisions more favorable to homeowners who undertake such renovations.

Contention

Key points of contention surrounding this bill include concerns about the extent of tax revenue implications for local governments owing to reduced property tax assessments. Opposition may cite the potential for significant revenue losses that could affect public services funded by property taxes. Additionally, there might be debates about the fairness of the provisions—whether the benefits should be extended to a broader range of relatives or be limited strictly to senior citizens of direct lineage. The bill's text stipulates that the reduction cannot exceed 20% of the total assessed value of the property, which may also be scrutinized in terms of its adequacy to incentivize necessary adaptations for senior living quarters.