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Is Murphy's proposal to increase NJ's 'mansion tax' a good thing? Experts have concerns

Summary by North Jersey
Gov. Phil Murphy proposed increasing New Jersey's mansion tax in his 2026 fiscal year budget. But local experts have concerns.

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Is Murphy's proposal to increase NJ's 'mansion tax' a good thing? Experts have concerns

Gov. Phil Murphy proposed increasing New Jersey's mansion tax in his 2026 fiscal year budget. But local experts have concerns.

·New Jersey, United States
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thelakewoodscoop.comthelakewoodscoop.com

Over $1 Billion in New Taxes and Fees Included in Governor Murphy’s Proposed Budget State Budget

New Jersey Governor Phil Murphy released his proposed state budget for Fiscal Year 2026 on Tuesday, touting a $6 billion surplus. However, what he didn’t mention, that included in the $58.1 billion budget proposal, is over $1.2 billion new taxes and fees, ranging from the elimination of several sales tax exemptions to new fees for […]

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North Jersey broke the news in New Jersey, United States on Thursday, February 27, 2025.
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