You’d Be Surprised at How Your Property Tax Relief Gets Calculated in NJ
If you were ever wondering how your property tax relief was calculated in NJ, much like everything else, an out-dated system is being used to do it.
According to this article, the baseline year used for calculating property tax rebates is 2006, when property taxes in NJ were much lower. Thus when credits go out later this year, they will be calculated at a rate from seven years ago.
By those calculations, the majority of NJ residents will be receiving anywhere from $92-$114 less, according to the analysis.
If you'd like to see how the full article and how the property taxes are calculated, click HERE.