More New Jerseyans will be eligible for this property tax break.
about three times more New Jerseyans will benefit from the program, the Treasury Department said.
Married couples with 2019 gross income of up to $150,000 are eligible, as are renters who earn up to $150,000. Homeowners who earn between $150,000 and $250,000 will get a partial benefit. As your question suggests, it would be quite unpleasant to be taxed on a benefit that’s supposed to take the bite out of the state’s
But the state Treasury Department says the benefit is not reportable on your New Jersey income tax return.
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