New Jersey § 54:4-8

§ 54:4-8.

a. A resident of this State shall be allowed a homestead rebate or credit for the tax year equal to the amount determined as a percentage of property taxes not in excess of $10,000 paid by the claimant in that tax year on the claimant's homestead , rounded to the nearest whole dollar, as follows: For Resident Taxpayer With Tax Year Gross Income: Percentage: not over $100,000․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․ ․․․․20% over $100,000 but not over $150,000․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․ ․․․․15% over $150,000 but not over $250,000․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․ ․․․․10% b. (1) A resident who is 65 years of age or older at the close of the tax year, or who is

allowed to claim a personal deduction as a blind or disabled taxpayer pursuant to

subsection b. of N.J.S.54A:3-1 , shall be allowed a homestead rebate or credit for the tax year equal to the greater

of (a) the amount determined pursuant to subsection a. of this section or (b) the

amount equal to an amount by which property taxes paid by the claimant in that tax

year on the claimant's homestead exceed 5% of the claimant's gross income, rounded

to the nearest whole dollar, but within the appropriate range, but not more than the

amount of property taxes actually paid, as follows: With Tax Year Gross Income: Range: not over $70,000․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․ $1,200 to $1,000 over $70,000 but not over $125,000․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․ $800 to $600 over $125,000 but not over $200,000․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․ $500 (2) Notwithstanding any provision of this act to the contrary, a homestead rebate or credit shall be allowed pursuant to this section in relation to the amount of the property taxes actually

paid during the tax year for the homestead owned and occupied as such at 12:01 a.m.

on October 1 of the tax year, whether paid for the entire tax year by the claimant

or by any pre-October 1 owner or owners of that homestead during that tax year. c. (1) If title to a homestead is held by more than one individual as joint tenants

or tenants in common, each individual shall be allowed a homestead rebate or credit pursuant to this section only in relation to the individual's proportionate share

of the property taxes assessed and levied against the homestead. The individual's proportionate share of the property taxes on that homestead shall

be equal to the share of that individual's interest in the title. Title shall be presumed to be held in equal shares among all co-owners, but if the

claimant satisfactorily demonstrates to the director that the title provides for unequal

interests, either under the conveyance under which the title is held, or as otherwise

may be demonstrated, that claimant's share of the property taxes paid on that homestead

shall be in proportion to the claimant's interest in the title. (2) Eligible claimants shall include individuals within any of the filing categories

set forth in N.J.S.54A:2-1 and any individual or individuals not required to file a gross income tax return

because their gross income was below the minimum taxable income threshold established

in N.J.S.54A:2-4 and N.J.S.54A:8-3.1 . In the case of a married individual filing a separate New Jersey gross income tax

return, if the spouse of the claimant maintains the same homestead as the claimant

and also files a separate gross income tax return in this State the homestead rebate or credit claimed under this subsection shall be equal to one-half of the amount of the homestead

rebate or credit allowable had the spouses filed a joint return and homestead rebate or credit application. (3) An application for a homestead rebate or credit shall be allowed for a homestead the title to which is held by a partnership, to

the extent of the applicant's interest as a partner therein, and by a guardian, trustee,

committee, conservator or other fiduciary for any individual who would otherwise be

eligible for a rebate or credit . An application for a homestead rebate or credit shall not be allowed for a homestead, the title to which is held partially or entirely

by a corporate entity of any type, except as otherwise specifically allowed for an

application from a resident of a property owned by a continuing care retirement community,

or a cooperative or mutual housing corporation. d. If the homestead of a claimant is a residential property consisting of more than

one unit, that claimant shall be allowed a homestead rebate or credit pursuant to this section only in relation to the proportionate share of the property

taxes assessed and levied against the residential unit occupied by that claimant,

as determined by the local tax assessor. e. Nothing in this section shall preclude a co-owner, who is other than a husband

or wife claiming a homestead rebate or credit on the same homestead, from receiving a homestead rebate or credit determined pursuant to this section if another co-owner claims a homestead rebate or credit pursuant to this section, provided however, that each claim for a homestead rebate or credit determined pursuant to this section shall be separately subject to the provisions

of subsections c. and d. of this section. f. (Deleted by amendment, P.L.2004, c. 40 .) g. (Deleted by amendment, P.L.2004, c. 40 .) h. (Deleted by amendment, P.L.2007, c. 62 .)