The big property tax promise

February 26, 2024

Seniors in N.J. were promised a big property tax break. Will it happen? They miss many things about New Jersey: the pizza, the Jersey Shore, and their friends.

But what the former Middlesex County couple doesn’t miss, they said, is their high property tax bill.

Several years ago, Linda and Louis Principe ditched a $16,000 property tax bill on their five-bedroom Colonial in Plainsboro, downsizing in 2011 to Monroe and a smaller tax bill of $8,000. But by 2019, that bill grew to $12,000, they said.

That’s when they decided to go. The Principes are among thousands of older residents who either willingly or reluctantly have abandoned the Garden State because of high taxes in recent years, taking with them their disposable income. In an effort to keep more seniors here, New Jersey last year came up with a tempting counter-offer: Stay NJ, a law intended to cut property taxes by up to 50% on primary residences for those who are 65 and older and earn less than $500,000 a year, starting in 2026. The maximum benefit would be $6,500.

The Senior Freeze, which reimburses eligible senior citizens and disabled persons for property tax increases, had new income limit increases and simplified residency requirements, allowing more people to qualify for the 2023 benefit year.

Altogether, the state’s tax break programs are a confusing jumble piled on top of each other, said Marc Pfeiffer, assistant director of the Bloustein Local Government Research Center at Rutgers University. “From a government administration standpoint, from a public understanding standpoint, it’s getting confusing,” he said.

Delaying the start of the program beyond 2026, or cutting the initial 50% payout with the goal of ramping it up in future years, are also plausible fixes, experts said.

“My expectation is the Legislature has made such a commitment to Stay NJ that something labeled Stay NJ is going to come out of the process,” Pfeiffer said.

NJ.com, February 25, 2024

Recent Posts

VTC-POET: Springwood Avenue Heritage Walk

Did you know that between the 1930s and 1970s, the West Side of Asbury Park, NJ, was a vibrant hub of African American life and culture? The community, shaped by Black and African American, Italian, Jewish, and Latino residents and business owners, created famous...

New Briefs: Rutgers Child Care Research Collaborative

The Rutgers Child Care Research Collaborative has released two new research briefs by Heldrich Center for Workforce Development researchers. New Jersey’s Childcare Workforce: An Examination of Internet Job Postings from October 2023, by Liana Lin, Brittney Donovan,...

Bhuyan Receives Leadership Excellence Award

  Soumitra Bhuyan, Executive Director of Health Administration Programs and Associate Professor at Rutgers University-New Brunswick’s Edward J. Bloustein School of Planning and Public Policy, is the recipient of a National Leadership Excellence Award. Jointly...

Heldrich Survey: Inflation, Job Security Concern Workers

Half of U.S. Workers are Not Confident in the Federal Government’s Ability to Boost the Economy Deep concerns about inflation and the labor market are widespread throughout the country as Republicans take control of the White House and Congress — even amid low...

Bhuyan and Samuel Explore Generative AI Use in Healthcare

Generative Artificial Intelligence Use in Healthcare: Opportunities for Clinical Excellence and Administrative Efficiency Abstract Generative Artificial Intelligence (Gen AI) has transformative potential in healthcare to enhance patient care, personalize treatment...

Upcoming Events

Event Series CAREERS

Virtual Career Drop-ins

Virtual

Stop by virtually on Mondays (except for holidays) beginning February 3 through April 28 between 11 am and 1 pm to ask a quick (15 min) career-related question of Bloustein […]

Event Series Research Seminar

Bloustein Research Seminar Series: Matt Mleczko

Bloustein School, Civic Square Building 33 Livingston Avenue, New Brunswick, NJ, United States

Presented by Matt Mleczko This venue will enable our faculty to share research, build community, and extend our networks. Pizza will be served. Bloustein faculty, advanced PhD students, and external […]