“Government hasn’t been working the way it can, the way it should,” the Democratic governor said as she addressed lawmakers at the state capitol on Mar. 10.
“And here in New Jersey, a broken budget is at the heart of so much of that. So for too long, too many in Trenton have taken the easy way out, opting for a quick fix instead of laying the foundation for a solid future. Last November, voters were clear. They sent me here to be a different kind of leader, to make their lives more affordable, to protect our kids, to make our government more accountable, and change how business is done. I take that trust seriously.”
The budget includes $4.2 billion in direct property-tax relief. That covers $2.3 billion for the ANCHOR property tax relief program, $350 million for the Senior Freeze program, and nearly $700 million for Stay NJ, a 2023 program that sends annual rebate checks to senior homeowners to offset property tax costs.
Sherrill proposed scaling back Stay NJ eligibility, capping qualifying income at $250,000—down from $500,000—and limiting the maximum benefit to $4,000. Her office said the changes are necessary to keep the program financially sustainable. The budget projects Stay NJ will still benefit more than 440,000 seniors, while ANCHOR is expected to reach nearly 1.4 million homeowners and more than 673,000 renters.
