New Jersey Launches Task Force to Spearhead Senior Property Tax Relief Initiative

Governor Murphy, legislative leaders appoint experts to guide Stay NJ program, aiming to halve property taxes for senior homeowners.

NEW JERSEY – In a significant move to address property tax burdens, New Jersey Governor Phil Murphy, alongside Assembly Speaker Craig J. Coughlin and Senate President Nicholas Scutari, has announced the formation of a new task force. This team, composed of six seasoned public officials, is tasked with implementing the ambitious Stay NJ property tax relief program, designed to reduce property taxes by 50% for the state's senior citizens.

Governor Murphy, Speaker Coughlin, and Senate President Scutari today unveiled their selections for the Stay NJ Task Force. This assembly of experienced public servants will offer strategic guidance on the Stay NJ property tax relief program. The program's primary goal is to significantly alleviate the property tax pressures faced by New Jersey's senior homeowners.

The Stay NJ program, a part of the Fiscal Year 2024 budget, was championed by Speaker Coughlin and Senate President Scutari and received Governor Murphy's approval. The six-member task force includes:

Deputy State Treasurer Aaron Binder (State Treasurer's designee)
Dr. Christopher Wheeler, Chief Data Officer, NJDCA (Commissioner of Community Affairs' designee)
Chief Policy Advisor Dennis Zeveloff (Governor's appointee)
Jessica Cohen, former Senate President's Public Policy Director (Senate President's recommendee)
Woodbridge Mayor John E. McCormac, former State Treasurer (Assembly Speaker's recommendee)
Plainfield Mayor Adrian O. Mapp (Joint recommendee by Senate President and Assembly Speaker)

Highlighting the expertise of the appointees, Governor Murphy expressed confidence in their ability to shape the program effectively. He emphasized their extensive experience in public policy and their understanding of the impact of property taxes on local communities.

Speaker Coughlin and Senate President Scutari also underscored the credentials of their appointees, citing their in-depth experience in public policy, finance, and local government administration.

The task force will examine existing property tax relief programs, aiming to consolidate them into a streamlined system for seniors. A report containing recommendations for this integration is expected by May 30, 2024. The goal is to have a unified property tax relief application for seniors, targeting implementation by January 1, 2026.

David Ridolfino, a veteran of the State’s Office of Management and Budget, has been appointed as the Executive Director of the task force, supported by the Treasury Department staff.

The Stay NJ initiative is part of the state's broader efforts to make New Jersey more affordable for its residents, especially seniors. It complements existing programs like the Senior Freeze and ANCHOR, which have already shown success in easing property tax burdens. The Fiscal Year 2024 budget includes provisions for expanding these programs, further benefiting New Jersey's senior population.