Questions & Answers

What is the Property Tax Credit/Deduction?

New Jersey allows either a credit OR a deduction for the property taxes you paid, but not both. Enter the property taxes due in 2020 that you paid for in 2020. We'll calculate whether you get a greater benefit from the Property Tax Credit or the Property Tax Deduction. The maximum Property Tax Credit is $50; the maximum Property Tax Deduction is $15,000.

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