StayNJ passes full legislature on near-unanimous votes

StayNJ, a new tax relief program for New Jerseyans over 65, passed both houses of the state legislature today on nearly unanimous votes, with only a few scattered defections in the Assembly and none in the Senate. The bill now heads to the desk of Gov. Phil Murphy, who is virtually guaranteed to sign it.

Once enacted, the program will provide New Jersey seniors with a tax credit worth 50% of their property tax bill, capped at a maximum of $6,500 and only available to seniors making less than $500,000 a year. The program won’t start sending out payments until 2026, but there will be a $250 boost to existing tax rebates for senior homeowners and renters in the meantime.

“I’m so pleased to see my StayNJ bill pass both houses of the legislature,” Assembly Speaker Craig Coughlin (D-Woodbridge) said in a statement. “I’ve heard from so many families about the difficult decisions faced by older residents. Now, they’ll be able to plan for the future, secure in the knowledge that over 90% of seniors will see their property taxes cut in half.

Coughlin was StayNJ’s original proponent, issuing his first proposal for slashing seniors’ property taxes in late May. His efforts were quickly joined by his upper chamber counterpart, Senate President Nick Scutari (D-Linden).

Their first proposal drew harsh feedback from Murphy, who said it was fiscally irresponsible and overly beneficial to wealthy homeowners. But after a period of negotiations, Murphy was able to make a number of edits, including implementing an income cap, reducing the maximum credit amount, and adding language stating that pension payments must take precedence over the program.

Those edits evidently weren’t enough for Assemblywoman Sadaf Jaffer (D-Montgomery), a progressive who publicly criticized the bill and who declined to cast a vote on it today. 

Certain aspects of the program were also received skeptically by Republicans, particularly the fact that it won’t go into effect until 2026, which GOP legislators said is a sign that Democrats aren’t actually serious about the proposal and are just using it as an election-year gimmick.

“We could do a bill in here today saying the state of New Jersey will no longer collect property taxes beginning in 2050,” Assemblyman Brian Bergen (R-Denville) said on the Assembly floor. “We all know it’s not actually going to happen. We should be doing things that we know have the potential to be done and make a lasting impact. It shouldn’t be about the politics.”

Bergen himself voted against the bill, as did fellow Assemblyman Kevin Rooney (R-Wyckoff). But despite their skepticism of Democrats’ intentions, every other Republican in both chambers ultimately supported the bill, allowing it to pass on an overwhelming bipartisan vote.