05 Mar Do I need to report RMDs on the property tax relief application?

Q. Do I need to report RMDs taken in 2025 — my first time — as income for 2025 on the PAS-1 application? The worksheet is much too complicated for me and has changed since last year. My only other source of income in 2025 is my Social Security, interest and a very small dividend from a utility.
— Homeowner

A. The PAS-1 is the new combined application covering the state’s property tax benefits.

It includes ANCHOR, the Senior Freeze and Stay NJ.

ANCHOR and the Senior Freeze have lower income thresholds, said Bernie Kiely, a certified financial planner and certified public accountant with Kiely Capital Management in Morristown.

“The problem was lower income people weren’t leaving the state. People with slightly higher income were leaving,” Kiely said. “In order to address this problem, the state came out with the Stay NJ program.”

This program included single persons who made $250,000 and couples who made $500,000, he said.

“For purposes of the PAS-1 form, income is defined as all your income, not just what was taxed on the NJ1040,” Kiely said. “So, to answer your question: Yes, your RMDs and Social Security income must be included in the calculation.”

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This story was originally published in March 2026. 

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