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Murphy recommends changes to bill allowing prepaid property taxes

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“I commend the bill's sponsors for their efforts to protect property taxpayers, including those who sought to pay their property taxes before the Trump administration's limitations of the SALT deduction took effect,” Murphy said in a statement.
“I commend the bill's sponsors for their efforts to protect property taxpayers, including those who sought to pay their property taxes before the Trump administration's limitations of the SALT deduction took effect,” Murphy said in a statement. - ()

Gov. Phil Murphy has recommended certain technical changes to a proposed bill that would permit New Jersey taxpayers to make dedicated prepayments toward anticipated property taxes.

Murphy took this action in response to President Donald Trump’s signing into law the Tax Cuts and Jobs Act, which limits a person's maximum state and local property tax (SALT) deductions to $10,000.

Murphy wants to eliminate possible confusion in Bill 3382 by explicitly “clarifying that taxpayers may indeed prepay their property taxes, regardless of whether the municipality had issued the quarterly tax bills prior to submission of the prepayment. This clarifying language is retroactive to July 1, 2017, and applies to any taxpayer who attempted to prepay a third or fourth quarter property tax installment for tax year 2018 in calendar year 2017.”

New Jersey residents pay among the highest property taxes in the nation.

“I commend the bill’s sponsors for their efforts to protect property taxpayers, including those who sought to pay their property taxes before the Trump administration’s limitations of the SALT deduction took effect,” Murphy said in a statement.

New Jersey Assembly Bill 3382 was co-sponsored by Rep. Roy Freiman, D-16th District; Assemblyman Vincent Mazzeo, D-2nd District; Assemblywoman Joann Downey, D-11th District; and Sen. Paul Sarlo, D-36th District.  

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David Hutter

David Hutter


David Hutter grew up in Darien, Conn., and covers higher education, transportation and manufacturing for NJBIZ. He can be reached at dhutter@njbiz.com.

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Wendy April 6, 2018 2:49 pm

I hear Murphy wants the property taxes to be considered a Charitable Donation. Would that mean I could pay half of my taxes and then get my employer to pay the other half with Matching Donations? How about this idea. Why don't the local government that uses the property taxes become transparent and let us cut the waste and then we wouldn't have to pay so much. What a concept.

mrdirt April 7, 2018 10:41 am

LOL, What a lot of BS. Protecting our ability to prepay property taxes. Blame the Feds for NJs high property taxes not NJ Politcians. I see a lot of celebrities are selling their homes according to NJ.com. They are leaving the State I'm sure to states with lower property and no state income taxes.

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