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Property Tax Deduction Credit
Who is eligible?
Homeowners who pay property taxes on their principal residence in New
Jersey.
What is the benefit?
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Deduction form income
of property taxes paid on principal residence or $10,000, whichever is
less or |
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Refundable credit or
$50. |
How to apply.
File Form NJ-1040 (or Form HR-1040 if not required to file an income tax
return.)
When to apply.
By April 15, or extended due date for filing Form NJ-1040.
Payment Date
NJ-1040 Filers - Deduction reduces amount of taxable income (credit
reduces amount of tax due ) on New Jersey income tax return.
For those 65 or older or
disabled , and not required to file Form NJ-1040 - Credit is paid with
Homestead Rebate on July 31 provided Form HR-1040 is filed.
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Help?
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