Nearly 1.7 million people in New Jersey can expect “historic property tax relief” by the end of May, and they should start checking their mail and accounts for it then.
Murphy claims that “property taxes, for most New Jerseyans, will go down dramatically” as a result of the programme.
Money is being distributed to property owners and tenants through the $2 billion ANCHOR property tax relief programme.
Phil Murphy said on Wednesday that the state was lowering property taxes to help make living in “this great state” more affordable for middle-class families. By any metric, this is a huge relief.
According to the governor, 4.4-5 million people have homes and have registered for ANCHOR relief.
“When you think about it, half of the population can be affected by this, in one way or another — that makes it an extraordinary programme,” says state Assembly Speaker Craig Coughlin.
However, some Republican lawmakers have voiced concerns about the initiative.
We may be free of this gimmick by the time the next governor takes office, and by then nobody will remember what ANCHOR is. That was a weird name, period,” says Assemblyman Hal Wirths.
Some Republicans in the legislature have claimed that ANCHOR is nothing more than a ploy by the Democrats to help them win reelection to the state senate and assembly in the fall.
Wirths argues that the Democrats have chosen superficial solutions over substantive reform.
Republicans attacked the governor’s plan, while Democrats stood by it.
“Other people will jump up and cry and say we’re not doing enough,” says state Sen. Joe Lagana, in reference to tax relief for New Jersey residents. However, no one has ever proposed billions of dollars in direct tax relief.
In his annual budget address on Tuesday, the governor requested $2 billion to fund ANCHOR for another year.