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Homestead Benefit Calculation for Homeowners
Age 65 or Older and/or Disabled on December 31, 2012

Homestead Benefits for 2012 will be paid (credit applied to property tax bill or check/direct deposit) in May 2015. See 2012 Homestead Benefit Payment Information for details.

If your 2012 New Jersey
gross income* is...

Your benefit amount** is calculated by …

Not over $100,000


Multiplying the amount of your 2006
property taxes paid (up to $10,000) by 10%


Over $100,000
But not over $150,000



Multiplying the amount of your 2006
property taxes paid (up to $10,000) by 5%

Over $150,000


Not eligible

*The income amounts apply to a single individual, a married/civil union couple living in the same residence, and married/civil union partners maintaining separate residences.

**The benefit amount cannot be more than the amount of property taxes actually paid.

Amounts you receive under the Homestead Benefit Program are in addition to the State’s other property tax relief programs. The total amount of all property tax relief benefits you receive (homestead benefit, property tax reimbursement, property tax deduction for senior citizens/disabled persons, and property tax deduction for veterans) cannot be more than the amount of property taxes paid on your principal residence for the same year.

If you receive a benefit that is larger than the amount for which you are eligible, you must repay any excess received. The Division can deduct the amount you owe from your homestead benefit or income tax refund or credit before the payment is issued.


Homestead Benefit Calculation for Homeowners Under Age 65 and NOT Disabled


Last Updated: Monday, 04/27/15



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