New Jersey is delivering a new type of property tax relief to homeowners. For the first time, the Stay NJ program focuses on senior homeowners. Those eligible are NJ residents 65 and older and those receiving Social Security Disability. Renters and homeowners under 65 do not qualify for Stay NJ.
The program can cut property tax bills by up to 50%, with a maximum benefit of $6,500. It is intended to complement existing relief programs, including Senior Freeze and ANCHOR. This mix of programs can make it difficult to understand total benefits, as each program comes with its own payout schedule and requirements.
How Stay NJ Benefits Are Calculated
The ANCHOR program provides fixed payments based on income. Seniors with annual earnings up to $150,000 receive $1,750. Those earning between $150,001 and $250,000 receive slightly less in relief at $1,250.
The Senior Freeze program reimburses homeowners for the rise in property taxes over time. Eligibility is based on the length of participation in the program and income limits. To qualify, you will have had to make $168,268 or less in 2024, and $163,050 or less in 2023.
If combined payments from ANCHOR and Senior Freeze do not reach 50% of a property tax bill, Stay NJ will provide an additional payment to make up the shortfall. Seniors whose combined benefits already exceed the 50% threshold or the $6,500 limit will not receive any payment.
Households with incomes of $500,000 or more are not eligible. Those with incomes below $500,000, but too high for ANCHOR or Senior Freeze, may still receive the maximum 50% cap.
Read more about Stay NJ here.
Timing and Applications
Most ANCHOR and Senior Freeze payments have already been sent. Stay NJ payments are scheduled for early 2026, with homeowners expected to receive letters in December outlining how their benefits were calculated.
Applications for Stay NJ are open through October 31 and can be submitted online here.
The Stay NJ expansion offers seniors additional financial support, particularly those on fixed incomes through SSI. By combining the program with ANCHOR and Senior Freeze, New Jersey aims to ease property tax burdens for older homeowners while maintaining clear limits for high earners.
The New Jersey Digest is a new jersey magazine that has chronicled daily life in the Garden State for over 10 years.