Home>Governor>Bucco wants Murphy to ensure Homestead tax credits go out in November

State Sen. Anthony M. Bucco (R-Boonton). (Photo: Nikita Biryukov for the New Jersey Globe)

Bucco wants Murphy to ensure Homestead tax credits go out in November

Treasury officials say short runway will hold those payments until next year

By Nikita Biryukov, September 10 2020 10:42 am

State Sen. Tony Bucco (R-Boonton) called on Gov. Phil Murphy to negotiate with the legislature to ensure residents get tax rebates under the Homestead Benefits program before the new year.

“New Jersey families continue to struggle with lost jobs, furloughs, and financial hardship as a result of this unprecedented crisis,” Bucco said. “Even while their paychecks and ability to earn have been reduced, their property tax bills still must be paid in full. That’s why it’s imperative that lawmakers and the governor work together on a bipartisan basis to ensure that Homestead Benefit credits can appear on property tax bills due in November.”

During an Assembly Budget Committee hearing Wednesday, Deputy Treasurer Catherine Brennan told the committee that residents would likely miss rebates due to land in November because the state government has a short amount of time to process the credits.

Residents already missed one such rebate in May after Murphy froze the program amid the state’s COVID-19-fueled fiscal tumble.

If the program makes it through budget negotiations as is likely, eligible residents can expect two such payments next year, one in February and another in May.

“We have the ability to resolve this problem today to ensure that homeowners get the property tax relief they deserve,” Bucco said. “Governor Murphy and legislative leaders should come together immediately to commit to funding property tax relief programs in the upcoming budget, regardless of how the rest of the budget is negotiated

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