Governor Phil Murphy signed the Stay NJ Act (P.L. 2023, CH. 75) into law in July of 2023, authorizing the creation of the Stay NJ Task Force. The Task Force is charged with putting forth recommendations on how to implement the new Stay NJ property tax relief program, restructure and consolidate the various current property tax relief programs, and identify what investments are necessary to implement the recommendations.
The Board held its first meeting in December of 2023 with a goal of completing the final report in May of 2024.
For your reference, the statute authorizing the program can be viewed online.
P.L. 2023, CHAPTER 75, Section 18 - The purpose of the task force shall be to develop recommendations for establishing and funding uniform property tax relief to all senior citizen homeowners and tenants making under $500,000 per year. The task force shall review all of the existing property tax relief programs and present, to the Governor and the Legislature, no later than May 30, 2024, a report containing recommendations about how to restructure, and consolidate, the various property tax relief programs into one, streamlined, property tax relief program that would deliver to senior citizens having an annual gross income under $500,000 an annual property tax benefit, which for homeowners shall be in the amount of 50 percent of the property tax bill on their principal residence, beginning with the tax year 2026, which commences on January 1 of that year.
The next meeting is TBD.
Date | Title | |
---|---|---|
May 2024 | Board Package 2 | |
May 2024 | Meeting Minutes | |
May 2024 | Board Package | |
Apr 2024 | Meeting Minutes 2 | |
Apr 2024 | Board Package 2 | |
Apr 2024 | Meeting Minutes | |
Apr 2024 | Board Package | |
Mar 2024 | Meeting Minutes | |
Mar 2024 | Board Package | |
Feb 2024 | Meeting Minutes | |
Feb 2024 | Board Package | |
Dec 2023 | Meeting Minutes | |
Dec 2023 | Board Package |
List of current Task Force members: