Craig J. Mont, CPA PC

07/07/2026

MAJOR CHANGES To NJ PROPERTY TAX
RELIEF PROGRAMS:

1) The two remaining Stay-NJ payments, from 2024, which were being paid out quarterly in 2026, are being reduced.

2) The income eligibility level for the 2025
Stay-NJ has been reduced. The income cut off which had been as high as 500k is now 200k.

3) The maximum benefit of the 2025 Anchor, Senior Freeze & Stay-NJ programs has been reduced. The prior benefit which was as high as $6,500 has been reduced and subjected to a tier of income eligibility thresholds.

4) The $ 250 Anchor bonus for seniors has been discontinued.

As the record NJ budget of 62 billion included a bevy of new spending programs the legislature felt it needed to reduce property tax rebates to help balance the budget.

NJ has the highest property taxes in the nation. The rebate programs were intended to temper the impact and keep high income taxpayers from relocating to states with much lower tax burdens.

07/24/2025

NJ state budget passed is 59 billion. A 4% increase from prior year budget

1 billion in tax increases and 500 million of new discretionary spending

A 1.5 billion structural deficit.

Budget is 70% higher than the final Christie budget from 8 years ago. (35 billion to 59 bill)

05/31/2025

To those currently applying for New Jersey property tax relief and are confused by claims from politicians (running for reelection to the state assembly and senate) that you will receive up to $ 6,500.

The 2022 & 2023 ANCHOR rebates have been eliminated. This will cost Senior homeowners up to $ 3,500!

The PAS-1 application is used to apply for ANCHOR, Senior Freeze & Stay-NJ.

The 2024 ANCHOR payments will begin in September, 2025.

The 2024 Senior Freeze payments will start July 15, 2025.

The Stay-NJ payments will be made on a quarterly basis beginning in February, 2026!

New Jersey can reduce or eliminate payments subject to the 2026 fiscal year state budget.

08/21/2024

https://finance.yahoo.com/news/fed-confronts-million-us-jobs-100000224.html?

(Bloomberg) -- US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates. Most Read from BloombergA Floating Island in Baltimore Raises Hope for a Wate...

01/19/2023

Inflation rears its ugly head again.

Effective January 23, 2023, the price of
a postage stamp increases to 63 cents.

08/08/2022

https://www.cnbc.com/2022/08/08/reconciliation-bill-includes-nearly-80-billion-for-irs-funding.html?utm_source=facebook&utm_medium=news_tab&fs=e&s=cl

Senate Democrats on Sunday passed their climate, health and tax package, including nearly $80 billion in IRS funding. Here's what it means for taxpayers.

05/21/2022

https://www.accountingtoday.com/news/irs-blasted-for-destroying-millions-of-information-returns-due-to-backlog

The service is coming under criticism for destroying an estimated 30 million paper-filed information returns, with one lawmaker even calling for the IRS commissioner to be replaced immediately.