5 Things About The Stay NJ Program
New Jersey has introduced the Stay NJ program, a new property tax credit aimed at encouraging seniors to remain in the state during retirement. Effective in 2026, Stay NJ works alongside the existing ANCHOR and Senior Freeze programs to provide coordinated property tax relief for eligible residents age 65 and over.
This video explains how Stay NJ works, who may qualify, how the $6,500 maximum benefit is calculated, and how income is defined under the updated rules — including retirement income sources that may surprise taxpayers.
For New Jersey homeowners focused on planning, taxes, and longevity in retirement, understanding how these programs interact is essential.
Take-aways:
- Stay NJ offers a property tax credit of up to 50%, capped at $6,500.
- Eligibility begins at age 65, with income limits up to $500,000.
- Benefits are coordinated with ANCHOR and Senior Freeze programs.
- Income calculations include Social Security, pensions, IRAs, and Roth distributions.
- This is a credit (not a tax exemption). Taxes must still be paid.
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5 Things About The Stay NJ Program – Transcript
The Stay NJ Program Transcript
Have you heard about the “Stay NJ” program for New Jersey residents?
Like the name implies, the State of New Jersey is figuring out that people retire – and they’re moving to Pennsylvania, or they’re moving to Delaware.
And they’d like to get seniors to stay in New Jersey.
So this is a new program, “Stay NJ,” was signed into law in 2024, and it becomes effective this year in 2026.
It’s for New Jersey residents, age 65 and over. The bottom line is you’ll get a credit for up to 50% of your property taxes.
That’s up to a dollar limit of $6,500.
If your property taxes are $10,000, you can get up to 50% of your property taxes.
That’s $5,000.
If your property taxes are $15,000, the maximum you can get is $6,500.
$6,500 is the top that you’ll get for this program.
It’s being worked in conjunction with two other programs for property tax relief that they have here in New Jersey for seniors.
The first one is called the “ANCHOR” Program… which stands for Affordable New Jersey Communities for Homeowners and Renters.
You’re eligible for the Anchor program if you own or occupy a home in New Jersey.
This isn’t really for seniors, this is for anybody.
But you have to have a gross income of $250,000 or less.
The second way you can qualify for the anchor program is if you’ve rented a home in New Jersey and you have gross income under 150,000.
That’s the anchor program.
Now, they also have a “Senior Freeze” program. Where, basically, when you turn 65, they will establish a “base” and any property taxes increases over that, you are going to get that back.
This is a property tax reimbursement program.
You have to be 65 or older.
You have to have been living in your home full-time for three full years.
You can also be eligible if you’re receiving Social Security disability benefits for yourself.
The total annual income, in order to be eligible for the senior freeze can’t exceed (at the present time) $168,268.
That’s a moving target. They’re going to adjust that each year, based on the cost of living.
But that gross income number includes social security benefits, tax exempt interest. Things like that.
What they’ve now done is, as they are rolling out Stay NJ, these three programs Anchor, Senior Freeze, and now Stay NJ, what they’re saying is the maximum benefit for all three programs is going to be $6,500.
So if you’re getting money from Senior Freeze and / or from Anchor, that will reduce the amount that you can get through the Stay NJ program.
Still pretty good.
I mean, they want people to stay and not move to a nearby state or move. But it’s still a pretty decent program.
They’ve revised the calculation for gross income for these programs.
So it includes all the income that you bring into your house.
But it also includes things that don’t necessarily show up on your New Jersey tax return, like social security benefits and other things. Like you have to include your pension income, your annuity income, tax exempt interest, if you’ve earned that.
Also, any other type of retirement income… think, required minimum distributions.
And this one threw me for a loop: distributions from Roth IRAs are also included.
This number, when you add it all up, your gross income cannot exceed $500,000.
So basically, if your gross income, with all these things added in, is under $500,000 and you’re 65 and over, you’re going to be eligible for this Stay NJ program.
It’s worth looking into.
Remember.. it’s a property tax credit. You still have to pay your taxes! But it’s going to work as a credit.
Make sure you’re speaking with your tax preparer this year, if you meet these eligibility requirements about the STAY NJ program.
Thanks for watching “The Stay NJ Program”
