Governor Murphy Announces NJ Property Tax Relief

People in New Jersey could soon be getting money back from the state.

Because of a budget surplus, Governor Phil Murphy and legislative leaders have agreed to $2 billion in property tax relief. Homeowners with incomes of under $150,000 would receive a property tax credit of $1,500.Those with incomes under $250,000 would get a $1,000 credit.

“Today we take a step forward on this administration’s promise to make New Jersey a stronger, fairer, more affordable state for our middle-class and working families,” Governor Murphy said.

Renters with incomes up to $150,000 would receive $450.

Property taxes average $9,300 in New Jersey and Governor Murphy said this program would offset 16 percent of the costs.

Photo Credit: Getty Images

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