October 1 Is the Deadline to Qualify for Property Tax Deductions in 2015

October 1 Is the Deadline to Qualify for Property Tax Deductions in 2015

If you are a veteran or senior citizen and owned a home in New Jersey before October 1, 2014, you may qualify for a $250 property tax deduction in 2015 — but you must apply by October 1 to get the deduction this year. If you bought the home after October 1, 2014, you will get the deduction in 2016 if you apply before October 1. The home in New Jersey must be your primary residence to get the deduction.

If you are eligible and qualified both as a veteran and a senior citizen, you may receive a $500 deduction in property taxes every year.

Although the laws providing these annual deductions in the State of New Jersey were passed in 1963, many are not aware of the laws or the deductions for which they may be eligible.

Applications are available at the office of the tax assessor or tax collector in every community, but you must go in and ask for them. In some instances you can call the office and they will send you a copy. Just make sure you ask what documentation is required.  Generally, it’s a copy of your driver’s license, a photo ID or income tax form to show you are a New Jersey resident and property owner.  For veterans, you also need a copy of your DD Form 214 or the equivalent. If you are the surviving spouse of a veteran, you are also entitled to receive the deduction. 

If you are the surviving spouse of a veteran who died while on active duty and lived in that residence or a veteran with a 100% service-related disability, you are exempt from paying any property taxes in New Jersey.

For more information on property tax deductions or other veteran's benefits, you can contact Virginia Tomlin, Director of the Veteran’s Bureau in Cape May County, at 609-886-2762 or the director of the Veterans Bureau in your county.

Unfortunately, many people don’t know these property tax deductions exist and neither the state nor local communities have done much if anything to enlighten New Jersey residents about them – although they have been state law for more than 50 years!

For more details on eligibility, read Eligible for a Property Tax Deduction? or get the applications, which have all of the necessary details.