State Treasurer Elizabeth Maher Muoio has announced the availability of Governor Murphy's Detailed Budget book for Fiscal Year 2026 online. The document can be accessed through the Department of the Treasury's Office of Management and Budget website.
The budget, totaling $58.05 billion, is designed as a policy document, an operations guide, and a financial plan. It reflects the Administration’s focus on maintaining New Jersey as both stronger and fairer while preparing for future challenges.
Key elements of the FY2026 budget include record high funding allocations for K-12 schools, a full public pension system payment for the fifth year in a row, and nearly $4.3 billion allocated for Direct Property Tax Relief. It also continues support for the ANCHOR property tax relief initiative aimed at homeowners and renters, expands the Senior Freeze Program, and proposes additional funding for the Stay NJ program. This latter initiative will dedicate $600 million to significantly reduce property taxes for over 432,000 senior homeowners.
The budget book provides summaries of appropriations, revenues, expenditures, fund balances, detailed department-by-department appropriations data, and budget language recommendations.
In addition to this detailed document, a Budget in Brief has been available online since Governor Murphy's Budget Address. This serves as a concise overview of his revenue and spending proposals.
