Many residents are struggling to cope with inflation. And states are planning to help. Each program benefits different groups of citizens. This time the state relief will go to the renters and homeowners of New Jersey. The other resident's support program also focused on a specific group.
Assembly Speaker Craig Coughlin commented on the property tax relief program. (source)
“New Jerseyans need tax relief now. It is my priority to enact the largest tax relief program in our state’s history and I am pleased that our $2 billion ANCHOR program puts us on course to deliver the boldest and most robust affordability agenda for our working and middle-class families for years to come. With $1,500 and $1,000 in direct property tax rebates for homeowners and $450 for renters, more than two million New Jerseyans will see money back in their pockets – relief they will be able to count on into the future and relief that builds on the existing 14 tax cuts enacted since 2018, which together affirm our commitment to position all of New Jersey as a more affordable place to live. My thanks to Governor Murphy and Senate President Scutari for working with me to achieve this expanded plan.”
Thus, homeowners earning up to $150,000 will receive $1,500 rebates on their property taxes. Those making between $150,000 and $250,000 will receive $1,000. Renters earning up to $150,000 will receive $450 checks. The fund's release date is uncertain. State treasury spokesperson Jennifer Sciortino said, "no later than May 2023.". (source)
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