Panel OKs Plan for Property Tax Rebate Program
An Assembly panel has moved forward plans for a constitutional amendment that would double the income limit for New Jersey seniors and disabled people to qualify for a property tax rebate.
The measures approved Monday by the Appropriations Committee call for raising the income eligibility from $10,000 to $20,000, before Social Security benefits.
If approved by voters, the amendment would make an additional 100,000 property tax payers eligible for a $250 rebate. But it also would require the state to pay out an additional $19 million in the 2014 fiscal year.
There are nearly 60,000 people who will benefit from the rebate this year.
Copyright 2013 The Associated Press.