“Now
that the FAIR plan is in effect, this year’s NJ SAVER rebate
checks for property taxpayers will increase to as high as $800, from
an average last year of $250 – as part of our plan to provide
immediate property tax relief for 2 million middle class families and
seniors,” Governor McGreevey said.
“We
are pushing back the NJ SAVER application deadline to ensure that
as many New Jersey taxpayers as possible take advantage of the program.
The extra time will ensure that residents become fully informed about
the program – and will make sure that as many New Jerseyans
as possible will apply,” Governor McGreevey said.
The
mailing of the applications, which usually occurs in early May, was
delayed this year while the Division of Taxation implemented processing
and programming changes made necessary by Governor McGreevey’s
FAIR plan. As a result, the filing period was shorter than in previous
years. 1.3 million applications have been filed thus far.
“This
has been a year of many positive changes for all of New Jersey’s
direct property tax relief programs, highlighted by more funding
for the Senior Freeze (PTR), and larger Homestead and NJ SAVER rebates
for about 2 million seniors and middle-class taxpayers,” said
State Treasurer John E. McCormac. “As part of our efforts to
ensure that all New Jerseyans are fully informed about the changes
and get the opportunity to apply for the benefits for which they’re
eligible, we are extending the filing deadline for NJ SAVER applications
to October 1,” he said.
Under
the FAIR plan, 93 percent of New Jersey homeowners will receive
larger rebate checks this year. More than 1.1 million homeowners
who received NJ SAVER rebates that averaged $250 last year will
receive checks of up to $800. Approximately 190,000 families with
income between $125,000 and $200,000 will see their average rebate
check from last year double, to $500. As in recent years, the rebates
will be limited to filers with gross incomes under $200,000.
In
previous years, non-senior homeowners with income of $40,000 or less
would receive a homestead rebate check of $90 at the end of July
and an NJ SAVER rebate check in the fall. Added together, the two
checks last year amounted to the average SAVER of approximately $250.
With the merging of the NJ SAVER and Homestead Rebate Program, these
qualifying homeowners this year will instead receive a single check,
in an amount that is two to three times last year's amount, in the
form of an NJ SAVER rebate check.
Checks
for NJ SAVER rebate applications filed by the original deadline of
August 16 will be mailed on or before October 15, 2004. Checks for
applications filed between August 17 and the extended filing deadline
of October 1, 2004, will be issued as quickly as possible, but may
not be included for the October distribution.
Any
New Jersey resident who owned a home as their principal residence
on October 1, 2003, and paid property taxes on that home should be
sure to file the NJ SAVER rebate application, even if they received
a homestead rebate check. By filing both, the homeowner ensures that
they are receiving the maximum benefit for which they are eligible.
Homeowners who haven't filed their NJ SAVER rebate application yet
can do so by calling 1-877-658-2972. They can also file online 24
hours a day, 7 days a week, at www.njsaverrebate.com.
Immediate
relief, in the form of higher NJ SAVER and Homestead Rebate checks,
is just part of Governor McGreevey’s three-pronged FAIR (Fair
and Immediate Relief) property tax plan.
The
plan also contains measures for long-term relief. These include a
call for a freeze on State, municipal and school district spending,
and the possibility of a Constitutional convention on New Jersey’s
property tax structure. The Governor will appoint a Citizens Task
Force to study how a convention should be structured, what its scope
should be, and how delegates should be selected. The Task Force will
make recommendations in time for the Legislature to create a ballot
question in 2005, on whether or not to hold a Constitutional convention.
