New Jersey
New Jersey — one of the most expensive states for US homeowners — just mailed out $145M in property tax rebates
New Jersey: Home to boardwalk beaches, Atlantic City casinos, and combative politics. And none of it is cheap. But now some Jersey seniors are catching a break.
The Garden State is infamous for its high property taxes. In fact, it ranked 11th highest among all U.S. states for average cost of living in Q1 2024, according to the Missouri Economic Research and Information Center.
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But the state is now offering a significant relief program for senior homeowners known as the “Senior Freeze,” a property tax reimbursement program that has sent New Jersey seniors $145 million in a first wave of property tax rebates to eligible recipients.
Don’t live anywhere near the Jersey Shore? Turns out New Jersey isn’t the only state where seniors are getting help with staying in their homes.
New Jersey’s Senior Freeze Program
The state’s program allows eligible homeowners to freeze their property taxes at a certain base year amount. The program reimburses any increases in property taxes paid since the base year, effectively “freezing” the tax rate at a previous level.
To qualify, homeowners must be aged 65 or older on December 31, 2022, or receiving Social Security disability benefits on or before that date; have owned and lived in their home (or mobile home) since December 31, 2019, and still owned it and lived there on December 31, 2023; and meet specific property tax and income limits.
Read more: Car insurance rates have spiked in the US to a stunning $2,150/year — but you can be smarter than that. Here’s how you can save yourself as much as $820 annually in minutes (it’s 100% free)
Other States Offering Property Tax Relief for Seniors
While New Jersey’s Senior Freeze Program has gained attention, several other states offer similar programs. Some notable examples:
California. The Golden State offers the Property Tax Postponement (PTP) program, which allows seniors, blind, and disabled residents to defer current-year property taxes on their principal residences. The deferred taxes become a lien on the property, which must be repaid when the homeowner sells or transfers the home, refinances, or passes away.
Florida. The Sunshine State has a property tax exemption for seniors aged 65 and older. The Senior Citizen Exemption provides additional homestead exemptions for low-income seniors who meet specific criteria. This can significantly reduce the taxable value of the property, resulting in lower property taxes.
Texas. Everything’s bigger in Texas, including the Senior Citizen Homestead Exemption, which provides an additional $10,000 exemption for school district taxes for homeowners aged 65 and older. The state also allows seniors to defer paying property taxes until they sell their home or pass away — a deferral that can provide substantial relief.
New York. The enhanced STAR (School Tax Relief) program provides property tax relief for seniors aged 65 and older with qualifying incomes. New York also offers a Senior Citizens’ Exemption, which provides further reductions based on income criteria.
Surprising Costs
While programs like the ones mentioned above can offer substantial relief, seniors should be aware of some surprising costs associated with property tax relief programs:
Application fees and deadlines. Some programs may require application fees or have strict application deadlines. Missing a deadline or not paying a fee can result in a loss of benefits for that year.
Income limits. Watch out for annually adjusted income limits that could crimp eligibility. Seniors need to stay informed about these changes to ensure they qualify.
Repayment requirements. Certain deferral programs, like those in California and Texas, require repayment of deferred taxes upon sale, transfer, or inheritance of the property. This can be a significant financial consideration for heirs.
Impact on other benefits. Receiving property tax relief may impact eligibility for other state or federal assistance programs. Seniors should check how these benefits interact.
What to read next
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
A serious crash in Hainesport, New Jersey, has forced Route 38 to close Thursday night.
The crash happened on Route 38 near Creek Road at around 9:30 p.m. Chopper 3 was over the scene, where two cars were badly damaged.
According to Burlington County dispatch, several people were injured in the crash.
This is a developing story and will be updated.
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The basics:
- Bed Bath & Beyond returning through new store format with The Container Store
- 5 New Jersey locations set for redesign
- Stores will combine home goods, organization products
- Acquisition of The Container Store expected to close in July
Three years after filing for Chapter 11 bankruptcy and closing its 360-plus stores, Bed Bath & Beyond is making a retail comeback in New Jersey.
After the formerly Union-based chain’s new parent company announced plans to acquire The Container Store, it is developing a new format that will blend the two banners together.
Starting this month, The Container Store’s 98 locations nationwide will be redesigned to prepare for an integration of Bed Bath & Beyond merchandise.
Known as The Container Store + Bed Bath & Beyond, the format will focus on home goods, organization products and in-home services.
Within New Jersey, the model is coming to:
- Bound Brook – 335 Chimney Rock Road
- Cherry Hill – 2000 Route 38
- Livingston – 372 W. Mount Pleasant Ave.
- Paramus – 370 Route 17 N.
- Princeton – 3506 Brunswick Ave.
Ahead of the overhaul, The Container Store liquidated about 30% of existing inventory in a bid to “streamline assortments, improve space productivity and create room for new products expected to arrive in phases later this year.”
Making room
The Container Store Senior Vice President of Stores Jen Pape described the changes as “a reset with purpose.”
“We are actively reshaping our stores to make room for what’s next. By streamlining select categories today, we’re creating the space and flexibility needed to introduce Bed Bath & Beyond products and deliver a more complete home experience for our customers,” she said.
The move follows Bed Bath & Beyond’s announcement in April that it will acquire The Container Store for about $150 million in stock and convertible notes. The transaction is scheduled to close in July.
The Container Store filed for bankruptcy in December 2024 amid increasing competition from big box retailers and a rough housing market that reduced demand for home goods. The chain emerged from Chapter 11 with its store fleet largely intact.
Bed Bath & Beyond reborn
After winning Bed Bath & Beyond’s IP auction in June 2023 for $21.5 million, Overstock.com relaunched it two months later with a refreshed website and mobile app where shoppers can purchase home décor, furniture, bedding and kitchenware. Overstock.com renamed itself Beyond Inc. before rebranding as Bed Bath & Beyond.
Retail strategy
Find out why the new owner of Harmon, another former Bed Bath & Beyond brand, closed its Bridgewater store here.
The Dallas-headquartered company’s portfolio also includes Overstock.com and Kirkland’s. Last year, it purchased Bed Bath & Beyond’s former baby-focused banner Buybuy Baby for $5 million, too.
The purchase followed Somerset-based baby care brand Dream on Me’s attempt to revive Buybuy Baby. In addition to spending $15.5 million to acquire the chain’s trademark, domain, mobile platform and business data, Dream on Me shelled out $1.17 million to take over 11 brick-and-mortar locations on the East Coast.
Less than a year later, Buybuy Baby closed its fleet of stores in October 2024 and became a “digital-first brand.”
New Jersey
Violent teens clash with cops at NJ carnival — prompting officials to cancel beloved yearly event
Unruly teens violently overwhelmed a New Jersey community carnival, sparking several fights and cursing out police officers, forcing organizers to prematurely shutter the beloved annual event.
A large gathering of “unsupervised juveniles” descended onto the Maple Shade Tigers Youth Football Carnival at JFK Memorial Field in Maple Shade, NJ, on May 1, inundating the yearly gathering to fundraise for the youth sport organization, according to township officials.
“Officers on scene, along with event organizers, directed those involved and other unruly individuals to leave the carnival grounds in an attempt to restore order and maintain public safety,” Maple Shade officials said.
“As a result of the incident, the carnival was closed for the remainder of the evening.”
The delinquents weren’t ousted without a fight, causing problems with officials at the carnival about 15 miles east of Philadelphia.
“They were cursing at police officers. They were clearly trying to provoke physical confrontations with cops,” Maple Shade Police Department Lt. Daniel O’Brien told 6 ABC Philadelphia.
Police say several teens were charged but didn’t reveal the alleged crimes, according to the outlet.
One witness described the mass exodus as a “herd of kids” being escorted by cops, according to the outlet.
Large swarms of teens were seen on video posted online getting into fights and sprinting down the streets of the neighborhood.
One clip captured police officers chasing some of the hooligans as night fell on the Burlington County enclave.
Rumors began to spread online about weapons being brought into the carnival, but Maple Shade Police could not verify the reports, and no weapons were recovered from the scene.
Because of the Friday night mayhem, the second night of the carnival was also canceled.
“We recognize that this decision is not made lightly. The Maple Shade Tigers Youth Football Carnival is a valued tradition that supports a dedicated youth sports organization and brings the community together each year,” town officials said.
“From the outset of this event, Township officials, the Maple Shade Police Department, and the Maple Shade Youth Football organization have worked in close coordination with a shared commitment to ensuring the safety and well-being of all attendees,” officials said.
“Despite these proactive efforts, the circumstances that developed this evening required immediate action.
Officials estimate that the youth football organization lost thousands of dollars after the cancellations.
“It’s a non-profit, everything that we have always goes back into the program. New equipment, uniforms, helmets,” Thomas Oshinsky told 6 ABC Philadelphia.
Following the chaos in Maple Shade, officials beefed up security measures for the upcoming St. Mary of the Lakes Carnival and Music Festival in neighboring Medford.
Fences will enclose the event, and there will only be two entrances, officials said in a statement on Facebook.
“Face coverings are strictly prohibited, hoodies cannot be worn over your head, wand screening will be conducted, and all bags will be subjected to search,” the advisory warned.
Guests over 18 will be allowed into the park free of charge, with minors taller than 60 inches needing to buy a ticket.
“Carnivals are meant to be fun, family-friendly, fundraising activities held within communities,” officials said. “In Maple Shade, we saw yet again, what happens when groups of teens come to a carnival with intentions other than riding rides, eating funnel cake or playing games.
“We are hoping the measures above will prevent anything unwanted,” the statement added.
Medford officials blasted the uptick in teenage chaos as the community events that have plagued local carnivals in the South Jersey area over the past several years.
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