NJ renters see property tax relief

From Newsday:

Renters to get more tax relief in Corzine budget plan

Some New Jersey renters will get more than four times as much property tax relief as they got last year under Gov. Jon S. Corzine’s proposed budget.

Details released Tuesday show renters who earn less than $20,000 per year will get $350 in property tax relief from the state, up from $75 last year.

The increase is part of a property tax plan approved by the Legislature. The plan would provide a 20 percent property tax cut for most homeowners and lesser relief to others. Corzine and lawmakers have said the plan would also increase tax rebate checks sent to renters, but the specific details weren’t available until Tuesday.

Under Corzine’s budget plan, renters who earn up to $20,000 would get $350, up to $35,000 would get $300, up to $50,000 would get $200 and up to $100,000 would get $80.

Senior citizen renters who earn up to $70,000 would get $860, up from $825 last year. Senior citizens who earn up to $100,000 would get $160.

In all, about 800,000 tenants would get help.

This entry was posted in General. Bookmark the permalink.

5 Responses to NJ renters see property tax relief

  1. UnRealtor says:

    Should someone earning $20,000 a year be renting anything?

  2. metroplexual says:

    Under Corzine’s budget plan, renters who earn up to $20,000 would get $350, up to $35,000 would get $300, up to $50,000 would get $200 and up to $100,000 would get $80.

    Senior citizen renters who earn up to $70,000 would get $860, up from $825 last year. Senior citizens who earn up to $100,000 would get $160.
    ————————————

    This makes no sense to me. Why the disparity in relief for renters between the age restricted and the regular renters?

    The under $20K get less than half of what a senior household making $69,900. If you are a senior and you make that much you probably don’t need the rebate.

    I never understood the two class system in property tax relief. If you have a low income you need relief period.

  3. Don says:

    Let’s not forget where the money came from. I am sure the average income in New Jersey is greater than $50,000, even for renters. So is the additional $125 rebate they would get worth the 1% increase in sales tax?

  4. LOL. More smoke and mirrors.

    Lets take 1% (20K = $200) and give back $75 more at the end of a year and they will love us for it.

  5. metroplexual says:

    Oh, I do not disagree Iredellhousing, what we have here is clearly a shell game. Why not make property tax null and void for schools and just levy a statewide tax like many western states do. It makes stupid zoning decisions go out the window like age restricted housing and brings about proper oversight to local school boards. The NJEA has its power because it deals with many small weak municipalities and not a monolith like the state.

Comments are closed.