Revises criteria to establish base year for homestead property tax reimbursement after relocation.

This bill changes how the "base year" is determined for property tax reimbursements when someone moves to a new home. Currently, after moving, a person must wait an extra year to be eligible for reimbursement. This bill allows eligible claimants to receive reimbursement immediately after moving to a new homestead in New Jersey. However, if the new home is newly constructed, the base year will be the first full tax year after construction is finished.

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