New Jersey offers three main property tax relief programs for seniors:
Stay NJ
Senior Freeze
ANCHOR
A single, combined application is now used for all three, and the state determines which benefit(s) you qualify for.
Key Programs for Seniors
Stay NJ:
A new program for homeowners age 65 or older with a 2024 income under $500,000.
It provides a benefit of 50% of property taxes (capped at a maximum 2024 benefit of $6,500),
which is calculated after any ANCHOR and Senior Freeze benefits are applied. Payments are expected to begin in early 2026.
Senior Freeze (Property Tax Reimbursement):
This program reimburses eligible seniors and disabled persons for increases in property taxes (or mobile home park site fees) on their principal residence. Eligibility requires meeting age, residency (10 years NJ resident, lived in home for 3 years), and income limits, which for 2024 was $168,268 or less.
ANCHOR
This program offers property tax relief to a wider range of NJ residents. For seniors (65+ with income up to $250,000), the 2024 benefit for homeowners is up to $1,750.