Property Tax Reimbursement Instructions - New Jersey Division Of Taxation Page 15
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16A.
No. You may only use the actual amount of property taxes due and paid on your
principal residence to determine the amount of your property tax reimbursement.
41.
Q.
My husband died during 1998, but together we were eligible for the property
tax reimbursement in 1997. I satisfied all the eligibility requirements for 1998
on my own. Should I file the PTR-1 as married or single?
A.
Each year stands on its own for the purposes of the property tax reimbursement.
Since you and your husband satisfied the requirements in 1997 (which will be your
base year) and you were married as of December 31, 1997, you would indicate
your 1997 marital status as “Married.” Since your husband died during 1998 you
were not married on December 31, so your 1998 marital status on your PTR-1 is
“Single,” even though your filing status on your 1998 Form NJ-1040 will be married,
filing joint return. Remember, since your marital status for 1998 is “Single” you
should only include your income, however, any inheritance (except for proceeds
received from your spouse’s life insurance policy) you may have received as a
result of your husband’s death must be included in your income.
42.
Q.
I satisfied all the eligibility requirements for the property tax reimbursement
in 1997 so that is my base year. I got married in February of 1998 and my new
husband moved into my home. Although together we satisfied the income
limitations for 1998, he has not lived in our home for the last 3 years. Are we
entitled to receive the property tax reimbursement, and if so, what marital
status should we use when filing the PTR-1?
A.
Yes, you are entitled to a reimbursement for 1998. Each year stands on its own for
the purposes of the property tax reimbursement. Because you were not married on
December 31, 1997, you would indicate your 1997 marital status as “Single.”
However, since you were married as of December 31, 1998, your 1998 marital
status on your PTR-1 is “Married.” As long as you satisfy the income limitations and
the spouse who owned and occupied the home satisfies all of the eligibility
requirements, you will still be eligible to receive the reimbursement.
43.
Q.
I have obtained a “reverse mortgage” on my home. Must I include the
payments that I receive from the bank when I determine my annual income?
A.
No. Any amounts which you receive as a result of a reverse mortgage on your
home are considered to be a loan and should not be included in the income
calculation.
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PTR FAQ – 11
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