17 May I’m not retired yet. Can I qualify for the Senior Freeze?

Q. My husband is 68 and receiving regular Social Security. I plan to retire soon. Can you have a property tax freeze based on one income? Would I have to file taxes separately in order to qualify?
— Almost retired

A. Congrats on your coming retirement.

Here’s what the state’s Division of Taxation says about the Senior Freeze:

“The Senior Freeze Program reimburses eligible senior citizens and disabled persons for property tax or mobile home park site fee increases on their principal residence. To qualify, you must meet ALL the eligibility requirements for each year from the base year (The year in which you became eligible for the senior freeze) through the application year (the current application year is 2018).”

These eligibility requirements are based on age/disability, residency, home ownership, property tax payment history and income limits, said Deva Panambur, a certified financial planner with Sarsi, LLC in West New York. and adjunct professor of personal finance at Montclair State University.

He said the income limits – $87,268 or less for 2017 and $89,013 or less for 2018 – apply regardless of your marital/civil union status.

“If your status is married/civil union couple and you lived in the same household, you must combine your incomes for the year and be below the income limits for all applicable years,” he said.

The age/disability eligibility criteria apply to you or your spouse, so you will qualify if one of you match the eligibility criteria of 65 years or older or receiving federal Social Security Disability payments.

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This story was originally published on May 17, 2019.

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