New Jersey Gov. Phil Murphy (D) signed a bill Friday revising provisions of the StayNJ property tax relief program, which will provide seniors with gross income below $500,000 with a 50% credit on the annual tax bill for their principal residence, up to $6,500.
The StayNJ program is scheduled to take effect in fiscal 2026 if the state meets financial requirements under a 2023 law that created the program. To launch, New Jersey must maintain a budgetary surplus of 12% and fully fund K-12 education and the pension system. In a statement, Murphy said he was “committed to ...
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