The Bergen County Homes Blog

June 19, 2010

The NJ Senior Citizen Property Tax Freeze

Posted in: Bergen County LIfe,Bergen County Real Estate by admin @ 2:05 pm

Senior citizens get a lot of breaks in New Jersey; sometimes you don’t even have to be that senior.  Imagine my surprise when I went into the Englewood International House of Pancakes and learned that because I’d crossed the 50 year line I could get pancakes at a discount.  Frankly, being told I get a senior rate at the age of 50 was more than disconcerting!

Property taxes are a major reason why senior citizens sell their Bergen County homes.  The cost of ownership for people who are on a retirement income often becomes a burden they cannot handle.  When they bought their family home many years ago, they had a working income but without that now, it’s just too expensive even when the mortgage is paid off.

Property taxes are a big part of the problem because they often go up every year making it increasingly more dificult for senior homeowners to afford their home.  To help out, the State of New Jersey has a property tax freeze program for those seniors who qualify and the deadline to apply for this has been extended until August 2nd.

Just go to the State of New Jersey’s Property Tax Reimbursement website where you’ll find all the information.  This program, known as the Senior Freeze, stops property tax increases for those who qualify.  As in all things relating to your finances and taxes, I suggest that you contact your accountant for guidance.  You can also call your local Tax Assessor.  But one thing’s for sure – if you’re a senior citizen, you want to check this out before August!

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3 Comments »

  1. This post is awesome !!! property taxes are really a big problem …. great job…

    Comment by Property Tax Assessment — February 27, 2012 @ 11:12 pm
  2. Property taxes are a big problem for a lot of people as well as seniors. You have people who lost a spouse, adult children trying to help their parents, disabled people. There should be an age limit for seniors, but the income factor needs to come down. People that can’t work due to a disability might not receive enough to pay increased taxes. Seniors bought these houses in a different economic time and that needs to be recognized.

    Comment by Howie — June 18, 2012 @ 1:08 pm
  3. I agree. Property taxes are the #1 reason senior citizens give me for selling their home and moving out of the area. The only solution is to become more efficient so costs decrease but that’s an uphill battle. For example, Bergen County has 70 different locations – why do we need 69 different police departments? I think Teterboro is the only town that doesn’t have it’s own. We need to regionalize more boards of education too. I don’t believe that anyone should lose their job but through the natural attrition process, we can begin to eliminate many expensive positions. Tenafly bought a mobile command center to replace the one they had – a mobile command center for $240,000? Why? Is Tenafly that huge a territory where this is necessary? No, but once they have it, they won’t give it up. Just ludicrous.

    Comment by Bergen County Real Estate Agent — June 26, 2012 @ 8:16 am

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Barbara Weismann, Broker Associate
ABR, CRS, GRI, SRES
Weichert Realtors
213 Rivervale Road
River Vale, NJ 07675
201-666-0777 Office
201-741-8490 Direct
 
 

 

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