Bill
Bill > A147
NJ A147
NJ A147Provides for direct property tax relief from Highlands Property Tax Stabilization Fund.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill would revise the Highlands Property Tax Stabilization Program to require that the distribution of the stabilization aid reflect all elements of the property tax bill. The bill would provide that the tax credit rate shall be multiplied by the taxable value for each taxable line item, the product of which shall be deducted from the total taxes due, before deductions, on each line item for the tax year. The tax credit rate and amount of the Highlands Property Tax Stabilization Credit would be displayed on the tax bill.
AI Summary
This bill revises the Highlands Property Tax Stabilization Program to require that the distribution of the stabilization aid reflect all elements of the property tax bill. The bill provides that the tax credit rate, calculated by dividing the total Highlands Property Tax Stabilization Aid by the total taxable value, shall be multiplied by the taxable value for each taxable line item, and the product shall be deducted from the total taxes due on each line item for the tax year. The tax credit rate and amount of the Highlands Property Tax Stabilization Credit shall be displayed on the tax bill.
Committee Categories
Agriculture and Natural Resources
Sponsors (3)
Last Action
Introduced, Referred to Assembly Environment, Natural Resources, and Solid Waste Committee (on 01/09/2024)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/A147 |
| BillText | https://pub.njleg.gov/Bills/2024/A0500/147_I1.HTM |
Loading...