NJ Homestead Rebate and Senior Freeze Deadlines Extended

The filing deadline for the New Jersey Homestead Rebate and Senior Freeze has been extended to November 2, 2009. The eligibility requirements for the Homestead Rebate have tightened due to budget constraints.

The first requirement for the Homestead Rebate is that you must have owned and occupied a home in New Jersey that was your principal residence on October 1, 2008. If you are age 65 or older, blind, or disabled you must have income of less than $150,000. For homeowners under age 65 you must have less than $75,000 of income.

For homeowners age 65 or older, blind, or disabled the maximum amount of the rebate is $1,200, which is calculated as a percentage of your property taxes. For homeowners under age 65, the amount is 20% of your property taxes if your income is lower than $50,000 and 13.34% of your property taxes if your income is between $50,001 and $75,000.

To be eligible for the 2008 Senior Freeze Program, you must be age 65 or older, lived in NJ for the past 10 years, lived in your home for at least 3 years, have paid the full amount of property taxes, and meet the income limitations.

To apply for the 2008 reimbursement, your income for 2007 must be $60,000 or less, and $70,000 or less for 2008. For the 2009 program, the income limitation increases to $80,000 for 2009, while remaining unchanged at $70,000 for 2008. Applications for the 2009 program will not be available until February 2010 or later.