Bill Text: NJ ACR84 | 2022-2023 | Regular Session | Introduced

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Bill Title: Proposes constitutional amendment to exempt $60,000 of assessment on primary residence owned by senior citizens from property taxation.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2022-02-07 - Introduced, Referred to Assembly Aging and Senior Services Committee [ACR84 Detail]

Download: New_Jersey-2022-ACR84-Introduced.html

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ASSEMBLY CONCURRENT RESOLUTION No. 84

STATE OF NEW JERSEY

220th LEGISLATURE

 

INTRODUCED FEBRUARY 7, 2022

 

 

Sponsored by:

Assemblyman  ROBERT AUTH

District 39 (Bergen and Passaic)

 

 

 

 

SYNOPSIS

     Proposes constitutional amendment to exempt $60,000 of assessment on primary residence owned by senior citizens from property taxation.

 

CURRENT VERSION OF TEXT

     As introduced.

  

A Concurrent Resolution proposing to amend Article VIII, Section I, paragraph 1 of the New Jersey Constitution.

 

     Be It Resolved by the General Assembly of the State of New Jersey (the Senate concurring):

 

     1.    The following proposed amendment to the Constitution of the State of New Jersey is hereby agreed to:

 

PROPOSED AMENDMENT

 

     Amend Article VIII, Section I, paragraph 1 to read as follows:

     1.    (a)  Property shall be assessed for taxation under general laws and by uniform rules. All real property assessed and taxed locally or by the State for allotment and payment to taxing districts shall be assessed according to the same standard of value, except as otherwise permitted herein, and such real property shall be taxed at the general tax rate of the taxing district in which the property is situated, for the use of such taxing district; however, the first $60,000 of the assessed value of the primary residence owned by a senior citizen who is 65 years of age, or older, shall be exempt from taxation as real property.

     (b)   The Legislature shall enact laws to provide that the value of land, not less than 5 acres in area, which is determined by the assessing officer of the taxing jurisdiction to be actively devoted to agricultural or horticultural use and to have been so devoted for at least the 2 successive years immediately preceding the tax year in issue, shall, for local tax purposes, on application of the owner, be that value which such land has for agricultural or horticultural use.

     Any such laws shall provide that when land which has been valued in this manner for local tax purposes is applied to a use other than for agriculture or horticulture it shall be subject to additional taxes in an amount equal to the difference, if any, between the taxes paid or payable on the basis of the valuation and the assessment authorized hereunder and the taxes that would have been paid or payable had the land been valued and assessed as otherwise provided in this Constitution, in the current year and in such of the tax years immediately preceding, not in excess of 2 such years in which the land was valued as herein authorized.

     Such laws shall also provide for the equalization of assessments of land valued in accordance with the provisions hereof and for the assessment and collection of any additional taxes levied thereupon and shall include such other provisions as shall be necessary to carry out the provisions of this amendment.

(cf: Art. VIII, Sec. I, par. 1; amended effective December 5, 1963)

     2.    When this proposed amendment to the Constitution is finally agreed to pursuant to Article IX, paragraph 1 of the Constitution, it shall be submitted to the people at the next general election occurring more than three months after the final agreement and shall be published at least once in at least one newspaper of each county designated by the President of the Senate, the Speaker of the General Assembly and the Secretary of State, not less than three months prior to the general election.

 

     3.    This proposed amendment to the Constitution shall be submitted to the people at that election in the following manner and form:

     There shall be printed on each official ballot to be used at the general election, the following:

     a.     In every municipality in which voting machines are not used, a legend which shall immediately precede the question as follows:

     If you favor the proposition printed below make a cross (X), plus (+), or check (a) in the square opposite the word "Yes." If you are opposed thereto make a cross (X), plus (+) or check (a) in the square opposite the word "No."

     b.    In every municipality the following question:

 

		CONSTITUTIONAL AMENDMENT TO EXEMPT SOME OF THE VALUE OF SENIOR CITIZENS' PRIMARY HOME FROM PROPERTY TAXES
	YES	Do you approve amending the Constitution to exempt some of the value of a senior citizen's home from the property tax?  The first $60,000 of the assessed value of a senior's primary home would be exempt from the property tax.
		INTERPRETIVE STATEMENT
	NO	This amendment would exempt the first $60,000 of assessed value of a senior citizen's primary home from the property tax.  The exemption would apply to the primary home of a resident 65 years of age or older.  This would lower the property tax bills of seniors by exempting part of the assessed value of their home from taxation.  The assessed value of a home is the number a municipality uses to calculate the property tax owned on a home.

 

STATEMENT

 

     If approved by the voters of the State, this proposed constitutional amendment would exempt from property taxation $60,000 of the assessed value of the primary residence owned by a senior citizen who is 65 years of age, or older.  Exempting $60,000 of the assessed value of a senior citizen's home would lower the amount of the home's value subject to property taxation, and would likely lower the property taxes on the home, thus making the property taxes more affordable to retired senior citizens who are living on a fixed income.