19 Dec Will Sherrill keep property tax breaks alive?

Q. We were fortunate to receive our ANCHOR and tax freeze in a timely manner this year. My biggest concern after this election, will our new governor continue providing relief for New Jersey residents, especially seniors? She made many promises, but I didn’t hear anything about giving back.
— Homeowner

A. Great question.

It brings into focus an important part of the state’s property tax benefits — ANCHOR, Senior Freeze and the new Stay NJ benefit — that’s often forgotten.

The benefits are not permanent. They need to be funded in each year’s state budget, which is due on July 1.

It’s not politically popular to cut property tax benefits, so people assume they will continue. But the state is facing budget troubles this year, and something’s going to have to give.

Will it be property tax breaks? No one really knows.

When Chris Christie was governor, he twice delayed the Homestead Benefit — rather than cancel those years of funding — to save money for the state. A so-called delay was a more politically acceptable strategy than canceling them, but it was really semantics. And that’s why the benefit years for ANCHOR were always behind the actual calendar year (until it was brought into line this year).

Gov. Elect Mikie Sherrill she supports ANCHOR and Stay NJ, NJ.com reported. She also said she wants to lower property taxes by merging municipal services and reducing overpayments to the State Health Benefits Plan.

As we get closer to budget season, we should have more clarity about the benefits for 2026.

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This story was originally published in December 2025.

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