May 1 Homestead Benefit Frozen

Posted on April 1, 2020

Due to COVID-19 related circumstances, the New Jersey State Treasury has frozen the May 1 Homestead Benefit credit.  This credit will not be applied to the second quarterly tax statements.  New Jersey municipalities are informing their citizens and preparing modified May 1 tax bills.

According to a statement on the Homestead Benefits webpage of the State Treasury:

Because the COVID-19 pandemic is anticipated to negatively impact the State economy, the New Jersey Department of the Treasury has frozen a portion of spending in order to ensure the State can meet its emergency and statutorily required obligations. Regrettably, this includes freezing funding to support the 2017 Homestead Benefit program.

For further information, go to: https://www.nj.gov/treasury/taxation/homestead/geninf.shtml (scroll down for 2017 info) or call the New Jersey State Homestead Hotline at: 888-238-1233

Source: NJ State Treasury