Speaker Coughlin Statement on Announcement of $2 Billion in Direct Property Tax Relief Under ANCHOR Program

Two Million Households to Receive Relief Bringing Down New Jersey’s Average Property Tax Bill to Levels Not Seen in Close to a Decade

Assembly Speaker Craig J. Coughlin (D-Middlesex) issued the following statement Tuesday after announcing alongside Governor Murphy and Senate President Scutari the historic agreement to expand property tax relief within New Jersey’s Fiscal Year 2023 State Budget under the proposed ANCHOR program:

“New Jerseyans need tax relief now.

“It is my priority to enact the largest tax relief program in our state’s history and I am pleased that our $2 billion ANCHOR program puts us on course to deliver the boldest and most robust affordability agenda for our working and middle-class families for years to come. 

“With $1,500 and $1,000 in direct property tax rebates for homeowners and $450 for renters, more than two million New Jerseyans will see money back in their pockets – relief they will be able to count on into the future and relief that builds on the existing 14 tax cuts enacted since 2018, which together affirm our commitment to position all of New Jersey as a more affordable place to live.

“My thanks to Governor Murphy and Senate President Scutari for working with me to achieve this expanded plan.”