New Jersey homeowners could see smaller property tax relief benefits under a budget proposal unveiled Tuesday by Gov. Mikie Sherrill, as the state confronts fiscal pressures and persistently high costs of living.

In her first budget address since taking office, Sherrill proposed tightening eligibility and lowering the maximum payout for the state’s Stay NJ program — a property tax relief initiative that aims to help senior homeowners remain in their homes.

The proposal comes as the average property tax bill in New Jersey has exceeded $10,000 for the second consecutive year, local outlet NJ.com reported.

If adopted in the final details ⇒

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