Property Taxes

In his first term, Gov. Phil Murphy raised income taxes on the rich and corporate taxes, among others. But he said "we're done, 100%" with tax hikes.

Republican Gubernatorial candidate for New Jersey Governor, Jack Ciattarelli, was at a home in Tuckerton on Thursday for a roundtable discussion hearing the concerns of Southern Ocean County residents with regard to property taxes, affordability and how small business owners are being impacted economically.

The cap on state and local taxes that can be claimed as a deduction on federal taxes, better known as the SALT cap, has been seen as an attack on Democratic states, particularly high-tax states such as New Jersey, New York and Connecticut.

Benefits for eligible homeowners have long been based on 2006 property tax information, even as bills continued rising. The change in the budget will boost benefits $130 or more.

Shared services to reduce spending is seen as one way to relieve some of the pressure on New Jersey's tops-in-the-nation property tax bills.

Property tax collections declined slightly in May, when mortgage escrows paid the bills. The pattern could be different in the second half of 2020.

In a party-line vote, Assembly approves plan to patch over steep declines in government revenues by borrowing billions of dollars to pay current expenses.

In a party-line vote, an Assembly panel voted to let counties and municipalities sell ‘coronavirus relief bonds’ to navigate the pandemic's financial fallout.

With property tax payments lagging and other revenues plunging due to coronavirus shutdowns, mayors endorse $500B in proposed federal aid for governments.

On Tuesday, Governor Murphy signed Executive Order Number 130 which will allow municipalities to extend the grace period for property tax payments due on May 1 to June 1 which certainly provides some breathing room for homeowners struggling in a struggling economy during the pandemic.

The State of New Jersey has thrown a yellow penalty flag on the Brick Township sidelines after the council passed a resolution earlier this month to extend the property tax grace period by 30-days.

A resolution was passed at the council meeting this week that will provide a 30-day grace period to property tax owners for a delinquent second quarter tax payment.