New tax criteria to help seniors stay in homes

New Jersey is known for many wonderful things. We are the birthplace of several of the world's greatest inventions. We have one of the most beautiful shorelines in the entire United States. And we are, of course, the state that celebrities from "Ol' Blue Eyes" to "The Boss" have called home.

Unfortunately, New Jersey is also well known for something that has become a problem for too many older New Jersey residents: its extremely high property taxes.

According to a 2007 Tax Foundation report, New Jersey has the highest median rate of property taxes paid per home. Combine these steep property tax rates with a faltering economy and sky rocketing home energy costs and you have a recipe for financial disaster for many older New Jersey residents living on fixed incomes.

Gov. Jon Corzine recently signed a bill that will increase the eligibility limits for the Senior Property Tax Freeze.

AARP New Jersey believes that this new law will help older New Jerseyans afford their property taxes and ease their financial stress in these tough economic times.

We thank Gov. Corzine, the key sponsors of this bill, including Assemblyman Paul Moriarty (DGloucester/ Camden) and Sen. Dana Redd (D-Camden/Gloucester). We thank the entire New Jersey State Legislature for their work on this new law that will help older New Jersey residents afford their property taxes and stay in their houses in the state they call home.
Sy Larson
State President
AARP New Jersey
Princeton