The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
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Roseland NJ, nearly 60 percent of the more than 275 certified public accountants (CPAs) surveyed by the New Jersey Society of CPAs (NJCPA) said Governor Murphy’s proposed $53.1 billion budget for the 2024 fiscal year will leave the state’s economy either marginally worse or significantly worse over the long term. More than 20 percent believed it would stay the same, and 20 percent said it would be marginally or significantly better.
the staff of the Ridgewood blog
Trenton NJ, with a State Budget Surplus, NJBIA Urges Fiscal Responsibility Addressing Debt, Appropriate Tax Relief for NJ Businesses. NJBIA President and CEO Michele Siekerka issued the following statement today regarding forecasts of a multibillion surge in tax revenue with the June 30 budget deadline approaching.
file photo by Boyd Loving
the staff of the Ridgewood blog
Trenton NJ, Governor Phil Murphy today unveiled the ANCHOR Property Tax Relief Program, a new initiative that will distribute $900 million in property tax relief to nearly 1.8 million homeowners and renters across the state during Fiscal Year 2023 (FY2023). The ANCHOR (Affordable New Jersey Communities for Homeowners and Renters) Property Tax Relief Program is part of the Governor’s FY2023 Budget Proposal, which will be unveiled next week. Under the Murphy Administration, New Jersey has seen the lowest cumulative average property tax increase on record for a governor at this point in his or her term.
Under the ANCHOR Property Tax Relief Program, homeowners making up to $250,000 per year are eligible to receive an average $700 rebate in FY2023 to offset property tax costs, lowering the effective average property tax cost back to 2016 levels for many households that were previously ineligible for property tax relief. Also, renters making up to $100,000 per year are eligible for a rebate up to $250 to help defray the cost of rent increases due to property taxes.
Continue reading Governor Murphy Feeling the Heat Unveils ANCHOR Property Tax Relief Program
