Are you one of the 1.6 million people who qualify for the New Jersey Homestead Property Relief Program?
- Seniors and disabled residents receive, on average, $516 in property tax relief.
- Resident homeowners earning less than $75,000 receive $402 in relief.
Do you pay more than the statewide average in property taxes?
- The average is $8000.
- Governor Christie passed a law nearly 4 years ago preventing property taxes from increasing more than 2% in any given year.
Why is the Relief being postponed?
- The program costs the State $375 million per year.
- The Governor’s reduced budget plan needs to slash that $375 million to close the gap between expenses and income.
What other budget items are being cut?
- The State is cutting its contribution to the public employee pension system by $1.57 billion dollars, despite having agreed to increase pension fund contributions as recently as 2011.
- Another $160 million will be cut from departmental spending and $15 million will be cut from NJ Transit funding.