Governor Murphy Surprises New Jersey With Big Announcement

Phil Murphy recently surprised New Jersey residents with a positive announcement about property tax rates...

Photo byPhil Murphy via Wikimedia Commons

Governor Murphy recently announced property tax relief for seniors in New Jersey. He also announced a third consecutive full pension payment, record aid for K-12 education, and a robust surplus to protect against future economic downturns.

“No one should have to choose between retiring in the place they’ve long called home and their ability to afford to age here,” said Governor Murphy. “When coupled with the 18 tax cuts we have already instituted or proposed for lower and middle-income taxpayers, this compromise agreement prioritizes equity and affordability to decisively level the playing field for New Jersey seniors.”

“StayNJ is about our future and our families' future. StayNJ will finally give New Jerseyans the freedom to choose whether or not to stay in New Jersey in their communities and with their families when they reach retirement age,” said Assembly Speaker Craig Coughlin.

“Once you become 65, your property taxes will be cut in half or your rental aid will increase significantly and, combined with reduced health care costs," Coughlin continued. "We believe we have taken a monumental step to make New Jersey more affordable for seniors. New Jersey is already a great place to live, work, and raise a family. Now it will be a place where you can retire with dignity and the freedom to choose to stay. I thank Governor Phil Murphy and Senate President Nick Scutari for working with me to reach a compromise agreement on StayNJ.” 

“This is a game changer for New Jersey’s seniors who are getting squeezed by escalating expenses,” said Senate President Nicholas Scutari. “It will provide significant tax relief that will make the state a more affordable place in which to live, work and retire. Reducing the burden of property taxes will give senior citizens the financial security they need to remain in New Jersey, where they built their lives. We want to offer seniors and their families the ability to plan their future here in New Jersey.”

What do you think? Leave a comment with your thoughts. And if you think more people should read this article, share it on social media.