Friday, October 24, 2008

JUST A REMINDER – NJ PROPERTY TAX RELIEF DEADLINES

Just wanted to let New Jersey homeowners know that the deadline for filing an application for the NJ Homestead Rebate, which can be done either by phone or online, and the NJ Property Tax Reimbursement (PTR-1 or PTR-2) is October 31, 2008.

You can also check on the status of your NJ Homestead Rebate here.

FYI, the income limit for the NJ Homestead Rebate application has been reduced. NJ homeowners with “New Jersey Gross Income” (Line 28 on the NJ-1040) of over $150,000 will not receive a rebate this year. The income limit for tenants remains at $100,000.

Below is the filing information for tenants, from the NJ Division of Taxation website –

- If you are required to file a 2007 New Jersey income tax return, you must complete your tenant homestead rebate application and file it at the same time you file your New Jersey income tax return (April 15, 2008). If you request an extension of time to file your State income tax return, the filing deadline for your rebate application is also extended. File your rebate application with your State income tax return on or before the extended due date.

- If you have already filed your 2007 New Jersey income tax return but did not complete the tenant rebate application even though you are eligible, you have until October 31, 2008, to file the tenant homestead rebate application, Form TR-1040. If you filed a traditional paper income tax return, you can submit a paper Form TR-1040, or you can file your tenant rebate application through
NJ WebFile, the Division of Taxation's free Internet filing system.

·
2007 Tenant Rebate Application
· 2007 Tenant Rebate Instructions

- If you are not required to file a 2007 New Jersey income tax return because your income is below the
minimum filing threshold, you have until October 31, 2007, to file your 2007 tenant homestead rebate application, Form TR-1040.

TTFN

No comments: