News Flash


Posted on: June 9, 2023

“Give It Back” Property Tax Relief Plan

Senators O’Scanlon and Testa have introduced S-3906, the “Give It Back” property tax relief plan. The plan calls for $4.32 billion from the New Jersey Debt Defeasance & Prevention Fund to be appropriated to each municipality and county with $3 billion to municipalities and $1.32 billion to counties. 

The funds would be allocated to on a per capita basis. The allocations to municipalities range from $2,260.74 to $100,618,753.76. The funds would have to be used to retire local debt or fund capital projects on a pay as you go basis. 

The bill awaits consideration by the Senate Budget and Appropriations Committee. No Assembly companion bill has been introduced. 

Contact: Lori Buckelew, Deputy Executive Director & Director of Government Affairs,, 609-695-3481, x112. 


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