Some 250,000 New Jersey residents could miss out on an income tax credit because of changes to the state’s property tax benefits under Stay NJ.
If the affected taxpayers don’t take action, it could add up to approximately $25 million of tax savings over two years gone. Forfeited. Lost forever. (Or added to the state’s coffers, depending on how you look at it.)
It all has to do with a controversial provision that brings the ANCHOR benefit year in line with the benefit years for Stay NJ and the Senior Freeze.
