fpiazza99
New Member

Can I claim a Property Tax credit for a NC vacation property that I own, on my New Jersey taxes if I live in NJ with my parents

I live and work in NJ. Live with my parent so I do not own a home in NJ. I pwn a vacation property in NC and pay property taxes. Should I claim those taxes as a property tax credit on my NJ state taxes?

LeeM
New Member

Deductions & credits

No, to be eligible for the NJ Property Tax Credit, you have to meet the following requirements (it looks like you did not meet the first requirement):

You are eligible for a Property Tax deduction or a Property Tax credit only if:

  • You were domiciled and maintained a principal residence as a homeowner or tenant in New Jersey during the tax year; and
  • Your principal residence, whether owned or rented, was subject to Property Taxes, that were paid either as actual Property Taxes or through rent; and
  • If you rented your principal residence, it had its own separate kitchen and bathroom that you did not share with occupants of other units in the building, if there were other units.
  • If your principal residence was a unit in a multi-unit property you owned, the property had no more than four units and no more than one of those was a commercial unit.
  • Your gross income is more than $20,000 ($10,000 if filing status is single or married/CU partner, filing separate return), or you (and/ or your spouse/civil union partner if filing jointly) were 65 or older or blind or disabled on the last day of the tax year. Note: Residents with gross income of $20,000 or less ($10,000 if filing status is single or married/CU partner, filing separate return) are eligible for a Property Tax credit only if they were 65 years or older or blind or disabled on the last day of the tax year.

For more information, you can visit the NJ Property Tax Deduction website here:

http://www.state.nj.us/treasury/taxation/proptaxdeduc_credit.shtml