New Jersey Treasurer Andrew Sidamon-Eristoff announces delay of Homestead Benefit until June 2015

New Jersey homeowners looking for some property tax relief over the summer will have to wait a little longer following an announcement from the state treasurer Wednesday. (5/21/14)

TRENTON - New Jersey homeowners looking for some property tax relief over the summer will have to wait a little longer following an announcement from the state treasurer Wednesday.

The state's Homestead Benefit won't be paid out until June 2015.
  
"It's our current expectation that the Homestead Benefit will be paid at the end of the next fiscal year," said Andrew Sidamon-Eristoff.

The Homestead Benefit gives seniors, the disabled and homeowners making less than $75,000 a year, a credit on their property taxes worth several hundred dollars.

READ MORE: New Jersey Top Stories

Gov. Chris Christie already said the state's pension contribution would be slashed and Democrats say they are tired of excuses.

"Perhaps what I'm waiting to hear, what I'm anxious to hear is the governor to take ownership of this budget … is for the governor to take ownership of where we are today," says Assemblyman Gary Schaer.

Some worry that delaying the payment could mean it may never come.

"We get the bulk of our cash in March and April and it makes it more likely to have it paid and that's why we're doing it," Christie says. "If I wanted to eliminate it, I would have just eliminated it. I've done that before."

The state has until the end of June to get its budget for the next fiscal year in place.

advertisement | advertise on News 12

advertisement | advertise on News 12