09 Jul Why is the Stay NJ income level so high?

Q. Why is the Stay NJ income level so high?
— Taxpayer

A. Ah, politics.

First, to make sure we’re all on the same page, Stay NJ is a new property tax relief plan that would kick in starting in 2026, assuming the Legislature, in the state budget that would pass next summer, meet certain conditions.

The Stay NJ law itself was passed last summer, and lawmakers agreed on the $500,000 income cutoff to qualify for the benefit.

At one point in the negotiations it was $200,000. But in the end, the $500,000 cutoff is what won out.

Fair? Not judging here. But you can let your lawmakers know if you disagree. You can find their contact information here.

Email your questions to .

This story was originally published in July 2024.

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