Who
is eligible
Homeowners, including owners of mobile homes located in mobile
home parks, age 65 or older, or receiving Federal Social Security
disability benefits, who paid property taxes on their principal
residence in New Jersey either directly or through mobile home
park site fees.
Applicants must be New Jersey residents for at least the
past 10 years, and lived in the home for which reimbursement
is claimed for at least the last three years, and must meet
certain income limits. Applicants must meet all requirements
for both base year and reimbursement year.
What is the benefit
Reimbursement of the difference between the amount of property
taxes paid for the base year and the amount paid for the reimbursement
year
How to File
Form PTR-1 for residents who did not receive a prior year’s
reimbursement or Form PTR-2 for residents who did receive
a prior year’s reimbursement
When to File
By March 15
Property Tax Deduction/Credit
Who is eligible
Homeowners and tenants who paid property taxes on their principal
residence in New Jersey either directly or through rent during
the year
What is the benefit
Either:
(a) Deduction from taxable
income of the total amount of property taxes paid on principal
residence (for tenants, 18% of rent) or $10,000, whichever
is less;
or
(b) $50 refundable credit
How to File
Form NJ-1040, Form NJ-1040EZ, a return filed electronically
using NJ Web/PC File, NJ TeleFile, or approved vendor software,
or Form HR-1040 if not required to file an income tax return
When to File
By April 15 (or extended due date)*
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