N.J. residents to get bigger property tax rebates under new plan announced by Murphy, top Dems

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N.J. residents to get bigger property tax rebates under new plan announced by Murphy, top Dems
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The property tax rebates for homeowners would be boosted to $1,500, and renters would get $450 checks to offset rent increases related to property taxes.

’s new think tank, the Sweeney Center for Public Policy at Rowan University, a panel of budget experts said New Jersey tax revenues are expected to fall billions of dollars short of what the state will need to maintain government services over the next five years.

Scutari, Sarlo, and Senate Majority Leader Teresa Ruiz, D-Essex, said in a statement they are “fully supportive” of the plan but also are “considering additional measures to ease the tax burden.” We are battening the hatches down, expecting we’re gonna be in tougher waters in the not too distant future. It’s a weird moment in our economy,” the governor said. “You’re only seeing an element of the budget today. Bear with us.”

Murphy argued his administration has allocated more than $900 million for small businesses in recent years in the wake of the coronavirus pandemic and hinted there will be more money for businesses in the new state budget.

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