image of ... [[link removed]]
Friend,
Today, Senate President Nicholas Scutari, Assembly Speaker Craig Coughlin, and I announced the expansion of the new ANCHOR Property Tax Relief Program [[link removed]] to deliver on our promise to make New Jersey stronger, fairer, and more affordable for our middle class and working families.
[[link removed]]
In March, I announced ANCHOR , which stands for Affordable New Jersey Communities for Homeowners and Renters. The ANCHOR Property Tax Relief Program replaces the Homestead Rebate Program, and will make over four times more New Jerseyans eligible to receive a property tax rebate when compared with current policy. The expansion of the program will increase this investment from the nearly $900 million proposed in March to over $2 billion, making it one of the largest tax relief programs in state history — providing an effective tax cut for over 1.16 million homeowners and 900,000 renters.
Under the expanded ANCHOR Property Tax Relief Program proposal, there will be a full phase-in of rebates and the benefits will be simplified:
*
More
than
870,000
homeowners
with
a
household
income
of
under
$150,000
would
receive
a
$1,500
property
tax
credit
on
their
property
tax
bill
each
year;


*
More
than
290,000
homeowners
with
a
household
income
between
$150,000
and
$250,000
would
receive
a
$1,000
property
tax
credit
on
their
property
tax
bill
each
year;


*
And
more
than
900,000
renters
with
incomes
up
to
$150,000
would
receive
$450
each
year
to
help
offset
the
rent
increases
caused
by
increasing
property
taxes.
I want to thank everyone who has helped make this historic tax relief program possible, especially: Speaker Couglin and Senate President Scutari. This $2 billion in direct property tax relief will provide over two million household rebates, creating immediate and tangible relief for families.
Click here to watch Speaker Coughlin, Senate President Scutari, and I announce this historic property tax relief program. [[link removed]]
Governor Phil Murphy
[link removed] [[link removed]] [link removed] [[link removed]] [link removed] [[link removed]]
Paid for by the New Jersey Democratic State Committee.
New Jersey Democratic State Committee
194-196 West State Street
Trenton, NJ 08608
United States
If you believe you received this message in error or wish to no longer receive email from us, please unsubscribe: [link removed] .