Senate Committee to Vote on Bills to Reduce Property Taxes, Provide Financial Relief to Renters and Homeowners

 

 

Senate Committee to Vote on Bills to Reduce Property Taxes, Provide Financial Relief to Renters and Homeowners

 

Trenton – The Senate Community and Urban Affairs Committee will kick-off the 2022-2023 Legislative Session tomorrow, Thursday, January 27, at 10:00 A.M. in Committee Room 6, 1st Floor, State House Annex.

 

Acting to reduce the property tax burden, provide savings for renters and mortgage relief for homeowners, the committee will consider bills designed to deliver financial savings to New Jersey residents.

 

The following bills will be considered:

 

S330 Singleton/Scutari Increases distribution to municipalities from Energy Tax Receipts Property Tax Relief Fund over five years to restore municipal aid reductions; requires additional aid to be subtracted from municipal property tax levy.
S343 Singleton/Scutari Increases, from 18 percent to 30 percent, amount of rental payments defined as rent constituting property taxes for purposes of deduction from gross income for property tax payments.
S344 Singleton/Scutari Provides mortgage payment relief for residential property owners and small landlords during time of coronavirus disease 2019 pandemic.
S399 Johnson Increases contribution limit by counties and municipalities to volunteer first aid, ambulance, and rescue squads.
S616 Schepisi Authorizes establishment of regional economic development partnerships.
S114 Holzapfel Eliminates supplemental realty transfer fee.
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