NJ Property Tax Terminology

A comprehensive directory of definitions and official state resources for South Jersey residents.

A B C D E F G I P S T V

A

Abatement (Residential) Official Site

A program that allows homeowners to renovate their property without an immediate increase in taxes. Common in South Jersey for 5-year periods on qualified improvements.

ANCHOR Program Official Site

Affordable New Jersey Communities for Homeowners and Renters. Replaced the Homestead Benefit for state-wide tax relief.

Assessment

The value placed on a property by the municipal tax assessor for the purpose of apportioning the local tax burden.

B

Base Year Official Site

For the Senior Freeze (PTR), the year you first met the eligibility requirements. Your reimbursement is calculated based on increases from this specific year.

C

Chapter 123 (Appeal Rule) Official Site

The legal formula used by the County Board of Taxation to determine if a property's assessment is "out of bounds" compared to its true market value.

E

Equalization Table

A table prepared by the county to ensure that property assessments are uniform across different municipalities with different assessment ratios.

F

Farmland Assessment Official Site

A reduced tax assessment for land actively devoted to agricultural or horticultural use (minimum 5 acres).

P

PAS-1 Form Official Site

The unified application for New Jersey seniors and disabled persons to apply for ANCHOR, Senior Freeze, and Stay NJ in one submission.

S

Senior Freeze (PTR) Official Site

The Property Tax Reimbursement program that "freezes" taxes for seniors by refunding the difference between current taxes and their base year taxes.

Stay NJ Act Official Site

New legislation providing a 50% property tax credit (capped at $6,500) for eligible seniors starting in 2026.

V

Veteran Deduction Official Site

An annual $250 property tax deduction for qualified veterans and their surviving spouses.

Official Registry & Compliance

Licensing

Statutory Authority

Local Directories

Verified South Jersey Property Tax Resource. All links point to official New Jersey State and Legislative domains.