TRENTON, N.J. - The number of New Jersey residents getting property tax relief would nearly quadruple to almost 2 million people under a plan Democratic Gov.
Phil Murphy has unveiled. The governor’s proposal on Thursday will be part of the new fiscal year budget he presents next week to the Democrat-led Legislature.
He pitched the new plan at an event in Fair Lawn as part of an effort to concentrate on affordability since a narrow election victory in November.
Under the new plan, homeowners making up to $250,000 will be eligible to get a credit toward their property taxes of up to $700 in the fiscal year beginning July 1.