• The state is giving $250 million in new education money to municipalities, of which 90 percent, or $225 million, must be used to lower local property taxes.

• The Homestead Exemption is being raised from $7,000 to $13,000. That means a home assessed at $100,000, for instance, would only be taxed at $87,000. This exemption is given to all homeowners, excluding second homes and rental property, regardless of income.

• The Circuit Breaker refund program for low to moderate income is meant to prevent anyone from spending more than 6 percent of their income on property taxes. Property tax rebates of up to $2,000 – up from a previous maximum of $1,000 – will be given to individuals with incomes of $75,000 or less, and to families with incomes of $100,000 or less.