New Jersey A144 revises the Highlands Property Tax Stabilization Program to provide direct property tax relief from the Highlands Property Tax.

New Jersey A144 revises the Highlands Property Tax Stabilization Program to ensure that the distribution of stabilization aid reflects all elements of the property tax bill. The bill requires the tax credit rate to be multiplied by the taxable value for each taxable line item, with the product 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 will be displayed on the tax bill.

New Jersey A144 revises the Highlands Property Tax Stabilization Program to provide direct property tax relief from the Highlands Property Tax.

New Jersey A144 revises the Highlands Property Tax Stabilization Program to ensure that the distribution of stabilization aid reflects all elements of the property tax bill. The bill requires the tax credit rate to be multiplied by the taxable value for each taxable line item, with the product 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 will be displayed on the tax bill.