Q:

Does the New Jersey senior freeze property tax benefit stay with the life estate owner?

A:

Quick Answer

The New Jersey property tax reimbursement, also called senior freeze, remains with the life estate owner, also known as the life tenant, according to New Jersey Estate Planning & Elder Law Blog. The senior freeze program reimburses qualifying senior citizens and disabled persons for property tax increases.

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Full Answer

Life tenants in New Jersey are responsible for payment of property taxes and retain their property tax deductions. Under Section 18:14-1.1 of the New Jersey Administrative Code, the term “owned” for purposes of senior citizens’ property tax deductions specifically includes life tenants, explains the State of New Jersey Department of the Treasury. Further information about qualification for the senior freeze program, including the age requirements and income limitations, is provided in the instructions for Form PTR-1, or the property tax reimbursement application.

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