Revises definition of income for homestead property tax reimbursement and Stay NJ property tax benefit programs; modifies elements of Stay NJ property tax benefit program.

Summary

If enacted, this bill would broaden the definition of income used to determine eligibility for New Jersey's homestead property tax reimbursement and Stay NJ property tax benefit programs, and modify certain elements of the Stay NJ program. This affects homeowners and servicers that handle property tax escrow accounts, as changes in income thresholds may alter tax relief eligibility and escrow calculations.