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Panel OKs plan for property tax rebate program

TRENTON, N.J. (AP) — An Assembly panel has moved forward plans for a constitutional amendment that would double the income limit for New Jersey seniors and disabled people to qualify for a property tax rebate.

The measures approved Monday by the Appropriations Committee call for raising the income eligibility from $10,000 to $20,000, before Social Security benefits.

If approved by voters, the amendment would make an additional 100,000 property tax payers eligible for a $250 rebate. But it also would require the state to pay out an additional $19 million in the 2014 fiscal year.

There are nearly 60,000 people who will benefit from the rebate this year.