NJ Realtors Weekly–March 1

Published Mar 02, 2023

NJ Realtors® Weekly—March 1

Top Story of the Week

The Savannah Bananas are making their way to Trenton! Get ready for a side-splitting time at this upcoming members-only event on Aug. 9 at Trenton Thunder Ballpark. Sign up for the waitlist here. Tickets are extremely limited.


Being a Member Has its Perks

Save on Home and Auto Coverage with Farmers

Farmers GroupSelect is working with New Jersey Realtors® to provide members access to policies with customizable coverage options and discounts that could help members save. Click here to find a customizable coverage plan for you.


That's Who We R

Learn more about the 2023 launch of That’s Who We R, the National Association of Realtors® advertising campaign. Click here to watch the ads.


State of the State

Governor Murphy Proposes 2024 State Budget

Governor Murphy recently presented his Fiscal Year (FY) 2024 state budget proposal before the State Legislature, which contains no tax or fee increases and totals $53.1 billion. Among the items of importance to the real estate industry and homeownership, the budget proposal:


Extends the ANCHOR Property Tax Relief Program for another year, providing up to $1,500 in property tax relief for homeowners.
Provides $15 million for First-Generation Homebuyer Down Payment Assistance.
Utilizes $100 million in American Rescue Plan federal funds to create Urban Workforce Housing.
Allows a 2.5% Corporate Business Tax surcharge to expire.

The 2024 budget will be reviewed by the budget committees in the Assembly and Senate before it must be approved by July 1. New Jersey Realtors® will work with the State Legislature and Governor’s office to ensure there are no tax increases affecting real estate or homeownership.