Corzine’s REAL Property Tax Relief Plan For 2006
Governor Jon Corzine’s REAL property tax relief plan for 2006 has finally been revealed during the rush to pass budget bills in New Jersey’s Assembly and Senate. There will be no increases in the rebate for any homeowners and “the wealthy”, those earning $70,000 or more, will have rebates cut by $100. Reports did not include information on rebates for renters.
The 2005 New Jersey FAIR property tax rebate for homeowners who were age 65 or older or disabled ranged from a minimum of $550 up to a maximum of $1,320. Homeowners under age 65 and not disabled received rebates ranging from $330 to $385. Homeowners with income of $200,000 or more were not eligible.
Renters who were age 65 or older or disabled received rebates ranging from a minimum of $165 up to a maximum of $908. Rebates for tenants under age 65 and not disabled were $83. Renters with incomes of $100,000 or more were not eligible.