New Jersey's property tax relief programs include Senior Freeze, ANCHOR and Stay NJ.
The Stay NJ caps are a modest share of Saddle River's average property tax bill.
Stay NJ Caps and Saddle River Tax Bills
New Jersey Treasury describes Stay NJ's qualifying relief as covering half of the property tax bill, subject to income-based ceilings. The Fiscal Year 2027 Appropriations Act, signed June 30, 2026, set those ceilings for the 2025 tax year. The ceilings are $6,500 for income up to $100,000, $5,000 for income from $100,000.01 to $150,000, and $4,000 for income from $150,000.01 to $200,000. The income ceiling is $200,000. According to NJ Spotlight News, the income ceiling had been $500,000 before this budget.
Compared with Saddle River's average tax bill, those caps cover only a modest share. In the state's 2025 Average Residential Statistics, the average residential bill in Saddle River Borough was $20,339 and in Mahwah Township it was $10,236.
| 2025 average residential bill | Saddle River | Mahwah |
|---|---|---|
| Average bill | $20,339 | $10,236 |
| Half of the average bill | $10,169.50 | $5,118 |
| $6,500 cap as a share of the bill | About 32% | About 63.5% |
| $5,000 cap as a share of the bill | About 25% | About 49% |
| $4,000 cap as a share of the bill | About 20% | About 39% |
In Mahwah, half of the average bill is $5,118, which is below the $6,500 maximum. In Saddle River, half of the average bill is more than $10,000, above each of the income-based dollar caps. Those caps are about one-fifth to one-third of the average Saddle River bill.
Saddle River's own budget shows its bills are high because its homes are assessed at high values. The borough's adopted 2026 User Friendly Budget reports the municipal-purpose rate rising from 0.433 to 0.445. The average residential payment for municipal purposes alone goes from $8,253.61 to $8,565.65. Mahwah's 2026 municipal-purpose rate is higher, moving from 0.514 to 0.538. Even so, its average municipal-purpose payment is $2,593.63, up $120.06. These figures cover the municipal portion of the bill only.
Three Programs and the PAS-1 Form
Applicants file all three programs on one form, the PAS-1 Application for Property Tax Relief. Treasury sends each applicant one statement showing their Senior Freeze, ANCHOR and Stay NJ amounts. The total of all relief cannot exceed the property taxes paid on the principal residence for that year. The 2025 income limits differ by program:
| Program | 2025 income limit |
|---|---|
| Senior Freeze | $172,475 |
| ANCHOR | $250,000 for homeowners |
| Stay NJ | $200,000 |
The Senior Freeze reimbursement compares current taxes to taxes in a base year, and prior recipients have their base-year taxes preprinted on the form.
The Year of the Move Has Its Own Line on the Form
The 2025 PAS-1 instructions include Schedule 1, which asks for the address on January 1 and the address on December 31, the block and lot of each home, and the property taxes billed for the period of residency at each one.
The Payment Schedule Runs Behind the Tax Year
The first Stay NJ installments arrived during the week of February 9, 2026, according to NJ Spotlight News. NJ.com reported that 438,000 homeowners were approved for that first installment and that the average installment was $639.
The FY2027 budget split the third-quarter payment for the 2024 tax year into two halves, one in August 2026 and one in November 2026. Treasury says this change lowers recipients' total benefit for calendar 2026. Benefits for the 2025 tax year are scheduled for February and May 2027. Treasury presents the 2027 maximums on an annualized basis and assumes no changes to the program in the FY2028 budget. New Jersey Monitor reported that the FY2027 budget reduced the program's planned cost from $1.2 billion to $742 million. Because the program is funded one budget at a time, the benefit for any future tax year depends on that year's budget.
This post is general information and not legal, tax or financial advice.
Frequently Asked Questions
What was the 2025 PAS-1 deadline? The 2025 PAS-1 deadline was November 2, 2026. NorthJersey.com covered that deadline on October 23, 2026.
How do I check what I am owed? Treasury points applicants to its online property tax relief status inquiry system.
If you are planning a Saddle River sale, The Molfetta Team can help you plan the listing timeline. You can begin with a home valuation or book a consultation to plan the sale calendar.
