Gov. Murphy, top Democratic lawmakers announce deal on property tax relief for seniors
Gov. Murphy and top Democratic lawmakers have announced that "STAY NJ" has their support.
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Jun 25, 2023, 10:53 AM
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Updated 397 days ago
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2h agoThe announcement that a deal on property tax relief for seniors has been reached means that the state budget will likely pass the Legislature before a deadline this week.
Gov. Murphy and top Democratic lawmakers have announced that "STAY NJ" has their support.
The program would cut property taxes for seniors, but it was not easy getting to this point.
Gov. Murphy initially threatened to shut down the state over the first draft of the plan but backed off when the plan included payments for seniors who rent their homes.
Now, seniors making up to $500,000 a year will be eligible for more property tax relief.
Assembly Speaker Craig Coughlin, who pushed for the plan, says the point is to keep seniors in New Jersey rather than have them move to low-tax states like North Carolina or Florida.
"Keeping people, keeping seniors in the state of New Jersey is a priority for all of us," Coughlin said, "and so we're going to make sure that we get it done."
