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RELEASE: Gottheimer-backed ?Stay in Jersey? Legislation Passes NJ General Assembly to Attract Businesses and Families to New Jersey.
Phil Murphy. Spearheaded by Assembly Speaker Craig Coughlin, the initiative, called StayNJ, will provide tax credits worth 50% of property tax bills?up to $6,500?for incomes up to $500,000 for homeowners ages 65 and older. The catch: The benefits won't go into effect until January 2026.
TRENTON ? Governor Phil Murphy signed the Fiscal Year 2024 Appropriations Act into Law on Friday, building on the historic progress made over the last five years with new investments centered around increasing affordability, promoting fiscal responsibility, and creating world-class opportunities for everyone to succeed ...
The proposed FY2024 budget also continues the historic ANCHOR property tax relief program, proposing another $2 billion in direct relief to homeowners and renters.
The plan, called StayNJ, aims to cut property taxes in half for most of the state's seniors, but it will not take effect until 2026, leaving critics to question if the payouts will ever actually happen. State of Affairs host Steve Adubato joins MetroFocus to discuss the issue.