A last-ditch effort to keep seniors from leaving NJ: ‘Stay NJ property tax relief’

(The Center Square) – The state of New Jersey has implemented what appears to be a last-ditch effort to prevent seniors from leaving the state: “Stay NJ” property tax relief.

In response to a senior exodus, the state legislature passed the Stay NJ Act in 2024, which Gov. Phil Murphy signed into law. It first created a Stay NJ Task Force to determine how to provide property tax relief for senior homeowners and tenants with incomes under $500,000 a year.

The task force presented its findings to the governor and legislature, which were incorporated into an amended law that was enacted in November 2024. It became effective Jan. 1, 2026, and applies to the 2025 tax year.

It includes three programs: the “Stay NJ,” “ANCHOR” and “Senior Freeze” property tax reimbursement programs.

Two of the programs, Senior Freeze and Stay NJ, apply only to eligible homeowners. The ANCHOR program applies to eligible homeowners and renters. All three apply to seniors age 65 and older.

The Stay NJ ...