Gov. Phil Murphy and Democratic lawmakers announced an expansion of a proposed tax relief initiative that aims to provide property tax rebates for more than 2 million N.J. households.
of the property tax relief program included in the governor’s state budget proposal for the new fiscal year that begins July 1.
Garden State residents have seen initiatives like this before only to watch their rebates disappear when the state’s finances get shaky. Murphy’s new program essentially simplifies and expands on the Homestead Rebate, and places a new name on it. Democratic leaders in the Legislature have voiced support for the initiative, but lawmakers and Murphy are still trying to come to an agreement on a state budget before the deadline of June 30.
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