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kfinn222
New Member

In New Jersey, do I get a property tax deduction for rental property I own?

It looks like NJ allows you to deduct up to $15,000 in property taxes.  I pay about $8k on  my primary residence and $3k on a rental property I own.  Only the property taxes paid on my primary residence populate to the NJ State tax form.  I'm just wondering if I'm allowed to include property taxes paid on the rental.

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KatrinaB
Intuit Alumni

In New Jersey, do I get a property tax deduction for rental property I own?

If you did not live in the rental home, then you do not qualify to deduct the property taxes on your New Jersey return. The New Jersey Property tax Deduction can only be claimed for homes that were your personal residence during the year. If you were renting out a section of a home that you also occupied, then you could deduct the property taxes. 

Please view the New jersey link below for more information.

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

 

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