AARP New Jersey Applauds Passage of Fiscal Year 2023 State Budget

AARP New Jersey Applauds Passage of Fiscal Year 2023 State Budget

Supports ANCHOR’s Increased Property Tax Relief, Full Funding of the State Pension and Other Measures to Help Residents Remain in their Homes and Communities as they Age

AARP New Jersey Director of Advocacy, Evelyn Liebman, provided the following statement in response to the passage of the Fiscal Year 2023 state budget:

“AARP New Jersey applauds Governor Murphy, Assembly Speaker Coughlin, Senate President Scutari and members of the NJ Legislature for passing a Fiscal Year 2023 state budget that addresses New Jersey’s affordability crisis and delivers a level of direct property tax relief that will help residents remain in their homes and communities.

“AARP’s mission is to empower people to choose how they live as they age, and an important part of choosing how we live is being able to choose where we live. We know 77 percent of people 50 and older want to age in their own home; however, New Jersey’s highest in the nation property taxes are preventing residents from doing so. Nearly 40 percent of New Jersey voters 50 and older say property taxes are their most difficult household expense to pay each month.

“AARP New Jersey has long advocated for proposals that provide equitable, cost-effective and targeted property tax relief to those most burdened by their property tax bills, which often include historically marginalized communities.

“We strongly support the Governor’s new property tax relief program, Affordable New Jersey Communities for Homeowners and Renters (ANCHOR), which delivers a level of relief we haven’t seen in years for 1.6 million homeowners and 900,000 renters. Targeted, more equitable tax relief programs, like ANCHOR, are vital to keeping taxes manageable and fostering housing stability and affordability for both homeowners and renters. This is a strong step forward in helping residents remain in their homes and communities.

“Financial security in retirement is also crucial to helping people remain in their homes and communities and is a core component of our mission to enhance the quality of life for all as we age, including for generations to come.

“AARP applauds the Governor and Legislature for making the state’s full pension payment for a second year in a row. This payment will significantly strengthen the health of these systems, which support hundreds of thousands of New Jersey retirees and their families, as well as save all taxpayers money by reducing the state’s unfunded liability.

“We are pleased the state budget includes funds to continue efforts to establish the New Jersey Secure Choice Savings Program. There are currently 1.7 million private sector, hardworking New Jerseyans who do not have a way to save for retirement at work. Secure Choice, which is a public-private partnership enacted by Governor Murphy in 2019, will allow private sector workers an affordable, voluntary and portable retirement savings program that puts them in control of their futures.

“AARP New Jersey will never stop fighting for the health and financial security of all New Jerseyans. We look forward to working with the Administration as the FY ’23 budget goes into effect.”

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About AARP New Jersey 
AARP is the nation’s largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. AARP New Jersey educates and advocates on behalf of those 50 and older on issues that are important to them, their families and to all Garden State residents. The organization works to strengthen New Jersey communities with a focus on health security, financial stability and personal fulfillment. To learn more, visit www.aarp.org/nj or follow @AARPNJ on social media.