Will Taxpayers be entitled to the New Jersey Property Tax Rebate in 2009?
Despite the fact that "property tax rebates" have been around for several years in New Jersey, the New Jersey Gov. Jon Corzine said that the budget problems have forced him to reverse the giveback policy this year."
According to the State of New Jersey Division of Taxation, "last year more than 1 million rebate checks went out to households making up to $150,000 and the year before that folks making as much as $250,000."
Gov. Jon Corzine had initially proposed keeping the rebate checks for households making less than $75,000, but Gov. Corzine said "the tax rate is down because he's put more money into education."
The governor said his cut could potentially save the state more than $900 million but that his ultimate goal is to eventually restore the rebate program.