The number of NJ residents getting property tax relief would nearly quadruple to almost 2 million people under a plan Gov. Phil Murphy has unveiled. Here are details on Murphy's plan that he intends to include in his new fiscal year budget.
Overall the governor's proposal could benefit 1.8 million residents, up from the 470,000 who currently get the property tax assistance.
It's a fraction of the state's more than $46 billion budget, and the governor aims to make this an annual program. Currently, the average property tax benefit is $626, with eligibility limited to homeowners making $75,000 or less if they're under 65 and not blind or disabled. Those older than 65 or who are blind or disabled face a $150,000 income cap currently.
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