Office of the State Treasurer

(TRENTON) -- Treasurer John McCormac today said Homestead Rebates are being processed and will be mailed and delivered in the next few weeks. Many seniors will be qualified to receive a maximum $775 rebate, an increase of $25 from last year.

While in the past the Homestead Rebate had been dated at the end of July, homeowners did not receive them in the mail until the first weeks of August. McCormac said this year the Taxation Division delayed processing due to the State's tight fiscal condition and the need to manage daily cash flow with extreme caution.

"The checks are being processed and everyone should have them by the end of August," McCormac said.

The State budget provides for a record $514 million for Homestead Rebates to about 1.6 million residents. Despite the unprecedented budget crisis, Governor McGreevey balanced the budget and increased Rebate funding by $13.7 million so the maximum check could be increased to $775.