Those who qualified and were approved for property tax relief for the 2024 fiscal year should check their mailboxes.
On Friday, the New Jersey Taxation Department began sending out the second round of Stay NJ property tax relief checks.
While other tax relief programs in the Garden State, like ANCHOR, send rebates in a lump sum, Stay NJ sends its relief quarterly throughout the year.
This round of checks has an average of $645.58, around $50 higher than the first round of rebates that went out in March.
Homeowners 65 and older with a 2024 income of $500,000 or less are eligible to have up to 50 percent of their tax bill reimbursed, up to $13,000. Residents who were approved for Stay NJ should have gotten a letter from the state clarifying how much money they could expect in the mail.
It should be noted that, unlike ANCHOR, Stay NJ benefits are exclusively sent by paper check in the mail. The next round of payments is slated for August.
As it stands, some eligible Stay NJ recipients are getting up to $6,500. However, after some political moves from Governor Mikie Sherrill, there’s a chance that it won’t be the case soon.
Sherrill's introduced budget reflects slices to both Stay NJ eligibility and the amount of money one can be reimbursed.
Under the proposed budget, the Stay NJ income requirement is cut in half, meaning that the eligible seniors must have an income below $250,000, the same eligibility requirement as the ANCHOR program. Additionally, it lowers the maximum benefit from $6,500 to $4,000.
The governor says the move is a “fairer, more efficient use of taxpayer money.”
“Stay NJ is a great program – it keeps seniors, so often living on a fixed income, in their homes,” Sherrill said. “But it benefits households that make as much as $500,000 a year. I'm changing that to safeguard Stay NJ for middle-class seniors. If you make $250,000 or less, your tax relief is in this budget. That’s going to save taxpayers hundreds of millions of dollars a year.”
The decision has been met with some pushback from both residents and lawmakers. A recent poll conducted among Garden State seniors reflected an overall disapproval of the program's slashing.
More: Cuts To NJ Tax Relief Leaves Homeowners Outraged, New Poll Says
Sherrill’s proposed budget is now subject to review and negotiations, and the final product is due July 1. Read More — Sherrill Looks To End Crisis: 5 Takeaways From NJ Budget Address
Eligible residents are still able to claim up to $6,500 in Stay NJ property tax reimbursement for the 2025 fiscal year. Read More — Major NJ Property Tax Relief Available Now: How To Get Your Cut
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