N.J. Admin. Code § 18:14-3.5

Current through Register Vol. 56, No. 21, November 4, 2024

Section 18:14-3.5 - Limitation on deduction

(a) A qualified claimant may obtain only one deduction on only one dwelling house. This deduction may not be divided between two or more residences and the dwelling house upon which deduction may be allowed must be the claimant's principal place of residence. A deduction cannot be allowed on a dwelling house on which the claimant has only an estate for a term of years, a leasehold interest, or an interest of any other nature less than an estate in fee. A deduction may be allowed where the claimant's interest in the dwelling house is that of a tenant for life provided the tenant is responsible for the payment of taxes on the property on which the deduction is granted.

(b) Where both the claimant and his or her wife/civil union partner meet all prerequisites for deduction as persons of the age 65 years or over and where the claimant owns one residence and his or her wife/civil union partner owns another house located in this State, the deduction may be allowed only with respect to the dwelling house, which constitutes their principal place of residence. The result is the same where the claimant and his or her wife/civil union partner, as tenants by the entirety, own two residences. A deduction may be allowed only on the dwelling house, which constitutes claimant's principal place of residence. One spouse/civil union partner may not claim the deduction on one house while his or her spouse/civil union partner claims the deduction on the second house, because only one house can qualify as the principal place of residence.

(c) Where the title to the dwelling house is held by a senior citizen or a totally and permanently disabled citizen or a surviving spouse/surviving civil union partner, and a veteran, and they own the dwelling house either as tenants by the entirety, joint tenants, or as tenants in common, each claimant shall be entitled to his or her full veteran's deduction but only his or her proportionate share of this deduction even if the aggregate deductions granted exceeds the maximum deduction allowed for the applicable year. However, the deductions granted do not exceed each claimant's proportionate share of the total taxes assessed against the property.

(d) The sum deducted shall not exceed: $ 250.00 in the year 1983 and in each year thereafter.

N.J. Admin. Code § 18:14-3.5

Amended by 49 N.J.R. 277(a), effective 2/6/2017