Property Tax Relief Cut For Millions In New NJ Budget

New Jersey’s freshly passed $60.7 billion budget keeps the Stay NJ property tax relief program alive but tightens who qualifies: seniors earning over $200,000 are now ineligible, and the maximum benefit tiers vary from $4,000 to $6,500 depending on income. The changes trim the program’s cost from over $1.2 billion down to about $742 million, and while Governor Sherrill is calling it a win for middle-class seniors, AARP New Jersey says it falls short of what older residents were promised.