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MANY N.J. SENIORS, ESPECIALLY IN CITIES, WOULDN’T GET MUCH HELP FROM PROPERTY
TAX CUT PLAN, ANALYSIS SHOWS
* Updated: Jun. 19, 2023, 10:23 a.m.|
* Published: Jun. 13, 2023, 9:01 a.m.
Gov. Phil Murphy (center) speaks at the New Jersey Statehouse in Trenton earlier
this year, flanked by state Assembly Speaker Craig Coughlin (left) and state
Senate President Nick Scutari (right). These three leaders negotiate the state
budget, which is due July 1.Michael Mancuso | NJ Advance Media for NJ.com
By
* Riley Yates | NJ Advance Media for NJ.com
* Brent Johnson | NJ Advance Media for NJ.com
Supporters of a sweeping new property tax cut proposal for New Jersey seniors
say a big goal is to entice older residents across the state to stay by making
their lives here more affordable — so they won’t skip out and spend their golden
years elsewhere.
But while the legislation is designed to effectively slash property taxes in
half every year for most homeowners 65 and older, the majority of older
residents in the Garden State’s four largest cities would be among thousands of
seniors who’d get relatively little direct help because they rent instead of
own.
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