Property Tax Reimbursement Instructions - New Jersey Division Of Taxation Page 6
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167.
Q.
How does the property tax reimbursement affect the homestead property tax
rebate?
A.
This new program has no impact on the homestead property tax rebate. The
property tax reimbursement is in addition to the homestead property tax rebate.
8.
Q.
How does the property tax reimbursement affect the property tax
deduction/credit that I claim on my Form NJ-1040?
A.
If you are eligible for the property tax reimbursement and you claim the property tax
deduction on Form NJ-1040 you may only deduct an amount equal to your base
year property tax amount.
ELIGIBILITY REQUIREMENTS
9.
Q.
Who is eligible to receive a property tax reimbursement?
A.
You are eligible for the property tax reimbursement if:
♦ You are age 65 or older or receiving federal Social Security disability benefits;
and
♦ You have lived in New Jersey for at least 10 consecutive years, and have
owned and lived in the home for which you are claiming the reimbursement, or
have leased the site in a mobile home park on which you have placed a
manufactured or mobile home, for at least the last 3 years; and
♦ You have an annual income within the income limits (for 1997 and 1998 total
annual income less than $17,918, if you are single, or if married, annual income
combined with your spouse’s income less than $21,970); and
♦ You paid the full amount of the property taxes (or site fee if a mobile home
owner) that were due on your home for both the base year and the year for
which you are claiming the reimbursement.
You must satisfy each of the above requirements in order to be eligible to receive a
reimbursement for tax year 1998.
10.
Q.
Will the income limits change every year?
A.
For 1997 and 1998 the income limits will be the same, but the limits will increase in
subsequent years by the amount of the maximum Social Security benefit cost of
living increase for that year for both single and married persons. To be eligible in
1999 you will have to have total annual income less than $18,151 if you are single,
or if married, an annual income combined with your spouse’s income less than
$22,256.
PTR FAQ – 2
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