Coughlin Proposes StayNJ Property Tax Relief Program, Additional Benefits for Seniors

In an effort to address the rising costs facing senior citizens across New Jersey, Assembly Speaker Craig J. Coughlin unveiled a proposal to cut property taxes in half for most seniors and significantly expand assistance for medical benefits.

This week, Speaker Coughlin introduced legislation (A1) that would create a new property tax credit program called StayNJ, which will make it more affordable for residents to stay in their homes. Additional legislation was introduced that will significantly expand medical assistance for health insurance and prescription drugs.

Under StayNJ, the state would provide a 50% credit on seniors’ property tax bills, capped at $10,000. Homeowners who are 65 years or older would be eligible for the tax credit on their principal residence, […].

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