Do we get Stay NJ if only one of us is 65 or older?


Q. My wife and I own our home in New Jersey. I am a senior citizen, 66, but she is only 60. Do we still qualify for the Stay NJ tax break in 2026 if the bill passes?
— Homeowner

A. The Stay NJ tax break would cut property taxes up to 50%, capped at $6,500, for homeowners who earn less than $500,000 a year.

It was already passed last summer and made law, but it’s not supposed to start paying out benefits until the start of 2026.

Exactly how that will work is still unclear, and the details will be worked out by lawmakers and the governor during negotiations for this year’s budget, which is due June 30.

A task force that was created to figure out exactly how the benefit would work released its recommendations late last month, including how the benefit would work with the current ANCHOR and Senior Freeze benefits.

You can see those details here.

But to your question specifically, like ANCHOR and Senior Freeze, only one of the members of a couple needs to be age 65 to reap the benefit.

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This story was originally published in June 2024. presents certain general financial planning principles and advice, but should never be viewed as a substitute for obtaining advice from a personal professional advisor who understands your unique individual circumstances.