ROSELLE/ROSELLE PARK/ELIZABETH, NJ - While delivering comments at the Roselle Reorganization meeting in January, NJ State Senator Joseph Cryan spoke to Roselle residents about what's to come in 2019.

The 2019 budget provides $347 million in aid for underfunded school districts and Roselle will see their aid increase in the next 7 years by 57 percent – an increase of  $14M, Cryan said. 

We reached out to the Senator’s office for additional information. They reported that the budget will also allow districts to expand their pre-K programs or start new programs. This will create more spots in public pre-K programs, allowing more children to attend these programs. This funding will also enable districts to hire more teachers. Roselle is now eligible for an extra $589,254 in preschool funding, while Elizabeth preschool numbers are $44,488,000 and Roselle Park preschool $515,463.

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Senator Cryan also noted: They are restoring the Homestead Rebate Program ($154 mil)

  • Requirements for the program:
    • Be a New Jersey resident and have owned and occupied a home in New Jersey that was your principal residence on October 1, 2015.
    • Earn up to $75,000
    • Senior, blind, and disabled homeowners may earn as much as &150,000.
  • The income limits apply to single individuals and to married/civil union partners.
  • Last year eligible seniors and disabled residents got a reduction in property taxes of about $259. Other homeowners who earn up to $75,000 got about $202. Those credits about roughly double this year thanks to a corresponding increase in state funding for the program.
  • The budget restores $150 million that had been cut from the Homestead Rebate.
  • Eligible homeowners will receive an additional credit or check on or about November 1, 2018, due to the State budget.
  • The Senior Freeze (Property Tax Reimbursement) is a separate program. Some New Jersey residents who meet the requirements for both programs may qualify for both.
  • For application year 2017, the State Budget (FY2019) set the following qualifications for Senior Freeze payments: Only applicants whose 2017 income did not exceed $70,000 (the original limit was $87,268) were eligible as long as they met all the other requirements. 

Increasing Property Tax Deduction ($82 mil)

  • Income tax filers who itemize deductions can now deduct $15,000 in property taxes instead of just $10,000. This will benefit about 500,000 filers.

Increases the Earned Income Tax Credit ($27 mil)

  • Those who qualify for the federal Earned Income Tax Credit, which is available to lower-income households, will get an expanded benefit on their state tax returns. A family of two adults and two children qualifies for the credit if its total income is no more than $50,597.
  • The budget increases New Jersey’s credit from 35 percent of the value of the federal earned income credit to 40 percent by 2020. This will benefit about half a million low-income tax filers.
  • The average state benefit for qualifying families will be $1,160, according to the Murphy Administration.

Tax credits to care for children and the disabled ($14mil)

  • The State also created a write-off for more than 70,000 New Jerseyans earning less than $60,000 per year who care for children or other dependents
  • This credit is an allowance worth up to 50 percent of a similar federal credit.
  • It is called the Child and Dependent Care Tax Credit

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