May 22, 2014

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Latest News, New Jersey

New Jersey to delay $400M in property tax relief

By: Bob Jordan

TRENTON – Thousands of senior citizens and the disabled will not be seeing any property tax relief this year despite the promise from the administration of Republican Gov. Chris Christie to deliver the money in August.

State Treasurer Andrew Sidamon-Eristoff told lawmakers Wednesday that nearly $395 million in property tax relief to residents will be delayed by nine months in an effort to help manage an expected revenue squeeze when the new fiscal year arrives in July. State officials will wait until May 2015 to give the money back to residents through credits on property tax bills.

Democrats said the change isn’t fair and fretted that next year the Christie administration could further delay the payment or bank the money, if the state’s economic recovery continues to fizzle.

“I think that we’ve seen any number of tricks and procrastinations by this administration and there is little if anything that would shock me at this time,’’ said Assemblyman Gary Schaer, chairman of the lower house’s budget panel where Sidamon-Eristoff delivered the news.

 

Read more: http://www.app.com/story/news/local/new-jersey/2014/05/21/nj-tax-relief-delayed/2320294/