Property Tax Reimbursement Instructions - New Jersey Division Of Taxation Page 7
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
1611.
Q.
Okay, how do I know if I am eligible for the 1998 property tax reimbursement?
A.
You are eligible for the 1998 property tax reimbursement if:
♦ You were age 65 or older or receiving federal Social Security disability benefits
as of December 31, 1997 (if disabled, you continued to receive benefits through
December 31, 1998); and
♦ You owned and lived in your home (or have leased a site in a mobile home park
on which you have placed a manufactured or mobile home that you own) since
before January 1, 1995; and
♦ You lived in New Jersey continuously since before January 1, 1988, as either a
homeowner or a tenant; and
♦ Your total annual income was less than $17,918, if you are single or less than
$21,970 if married, during both tax year 1997 and 1998; and
♦ You paid the full amount of the property taxes (or site fee if a mobile home
owner) that was due on your home for both 1997 and 1998.
You must satisfy each of the above requirements in order to be eligible to receive a
reimbursement for tax year 1998.
12.
Q.
What about the 1999 reimbursement?
A.
If you were eligible in 1997 and 1998, your base year is 1997. If you remain
eligible in 1999 (that means you don’t move from your home, you pay the full
amount of the property taxes due and you meet the income limit) you will be
eligible for a reimbursement for the difference between the amount of your 1999
property taxes and your base year (1997) property taxes.
13.
Q.
What if I’m not eligible for the 1998 reimbursement?
A.
The first year that you satisfy all the requirements will become your base year. If
your property taxes increase in the year following your base year and you satisfy
all the requirements in that year also, you will be eligible for a reimbursement of the
increase in your property taxes.
14.
Q.
Will my base year ever change?
A.
It can. Once your base year is established it remains the same as long as you
remain eligible in succeeding years. If you don’t satisfy the requirements in one
year, then your base year will become the next year that you satisfy all the
requirements.
1/00
PTR FAQ – 3
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form Ppt-41 - Petroleum Products Gross Receipts Tax Monthly Remittance - New Jersey Division Of Taxation - 2003
Financial
Form Mss-i - Manufacturer's Monthly Report Of Special Shipments Of Taxable Cigarettes Into New Jersey - Division Of Taxation Cigarette Tax - State Of New Jersey
Financial
Related Categories
Parent category: Financial