Property Tax Stabilization for Senior Citizens, is a State program that allows certain senior-citizen residents to stabilize, or freeze, the property taxes on their homestead. The law goes into effect on August 8, 2022, and applies to property tax years beginning April 1, 2023. Interested taxpayers will need to first apply with the municipality where their homestead is located on or before December 1, and then reapply each year by December 1.