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TRENTON -- Governor James E. McGreevey and Treasurer John McCormac announced today that the Division of Taxation will begin mailing NJ SAVER Rebate checks to approximately 1.2 million eligible New Jersey homeowners this weekend.

"The NJ SAVER checks are part of a property tax relief program totaling $12.2 billion, which represents more than half of Governor McGreevey's FY 2004 budget," said Treasurer McCormac.

"This program represents a continued investment in our top priorities," said Governor James E. McGreevey. "Although New Jersey was confronted with a $5 billion shortfall this year, preserving this program demonstrates that we can be fiscally responsible, live within our means and still invest in education and tax relief," Governor McGreevey said.

Treasurer McCormac noted that under changes adopted with the Legislature in the budget for FY 2004, NJ SAVER checks were preserved for approximately 1.2 million households who qualified for the benefit last year. For FY 2004, NJ SAVER program funding was shifted to increased aid for local school districts. This year's average will total $250. Property tax relief highlights of the Governor's spending plan include:

·	More than $278 million in additional aid for CEIFA education formula funding,
·	$37 million increase in Extraordinary Special Education Aid and $100 million increase in school construction and renovation funding.
·	Increases in several municipal aid programs, including Energy Receipts aid, Extraordinary Aid and REAP (Regional Efficiency Aid Program) and REDI (Regional Efficiency Development Incentive).
·	$200 million in pension savings to New Jersey municipalities.

The NJ SAVER Program provides rebates for 2002 to eligible applicants who owned a home as their principal residence in New Jersey on October 1, 2002, and paid property taxes on that home, provided their income for 2002 did not exceed $200,000. NJ SAVER check amounts by municipality are posted on the Division of Taxation website, at . This year's schedule for delivery of NJ SAVER rebate checks is as follows: