A3382/S1971 (Freiman, Mazzeo, Downey/Sarlo) – Permits taxpayers to make dedicated prepayment toward anticipated property taxes

“I commend the bill’s sponsors for their efforts to protect property taxpayers, including those who sought to pay their property taxes before the Trump administration’s limitations of the SALT deduction took effect,” said Governor Murphy. “I am recommending certain technical changes that will ensure that this bill works as intended. I am hopeful that the Legislature will agree to these changes, and when they do, I look forward to signing this bill into law.”

“We support the revisions recommended by the Governor. They will advance our goal of helping to protect homeowners in New Jersey from the financial harm of the federal tax law that severely reduces state and local tax deductions,” said Senator Paul Sarlo and Assemblyman Roy Freiman. “These changes will help New Jersey to move forward in response to the sudden changes imposed by the GOP Federal Law. The revisions to the legislation will further clarify the procedures so that taxpayers can make pre-payments and municipalities can process them. We want to do all we can to help taxpayers realize the savings they deserve.”