The State of New Jersey offers Property Tax Relief Programs.
Three Tax Relief programs that are beneficial to Madison residents are:

Property Tax Freeze Program

Also called the Property Tax Reimbursement Program (PTR Program), this program reimburses eligible senior citizens and disabled persons for property tax increases on their principal residence. For more information call 1-800-882-6597 or click on the following link http://www.state.nj.us/treasury/taxation/ptr/

Homestead Benefit Program

This property tax relief program is available for all eligible state residents. For more information call 1-800-882-6597 or click on the following link http://www.state.nj.us/treasury/taxation/homestead/geninf.shtml 

Senior Citizen/Disabled Deduction

This program offers an annual deduction of up to $250 from property taxes for homeowners age 65 and older or disabled who meet certain income and residency requirements. http://www.state.nj.us/treasury/taxation/otherptr.shtml