Major Property Tax Rebate May Be Restored In New NJ Budget

Governor Sherrill’s budget proposal had trimmed the Stay NJ property tax relief program for seniors, cutting the maximum benefit from $6,500 to $4,000 and tightening income eligibility. Now, a joint statement from Sherrill and legislative leaders, plus reports of an additional $100 million in funding, suggests the final budget will restore the full $6,500 benefit before the July 1 deadline.