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mdminuto
New Member

NJ Real Estate Tax Refund

Other than filing a NJ State Return, what other documentation is required to receive the refund.  We recently sold a property with $0 capital gains.  Thanks.

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2 Replies
LenaH
Employee Tax Expert

NJ Real Estate Tax Refund

Can you please clarify whether you are asking about the property tax refund, 2023 Senior Freeze? 

 

To qualify for the property tax reimbursement (2023 Senior Freeze), an applicant must meet all of the following requirements. 

  • You must have been age 65 or older as of December 31, 2022, OR actually receiving federal Social Security disability benefit payments on or before December 31, 2022, and on or before December 31, 2023. You do not qualify if you (or your spouse) were receiving those benefits on behalf of someone else; and 
  • You must have owned and lived in your home (or have leased a site in a mobile home park on which you have placed a manufactured or mobile home that you own) since December 31, 2019, or earlier (and you still owned and lived in that home on December 31, 2023); and
  • You must have paid the full amount of the property taxes due on your home: For 2022: By June 1, 2023, and For 2023: By June 1, 2024; and
  • Your total annual income must have been: For 2022: $150,000 or less, and For 2023: $163,050 or less. These limits apply regardless of your marital/ civil union status. However, if your status at line 1 and/or line 2, Form PTR-1, was married/CU couple, and you lived in the same household, you must combine your incomes for that year.

If you qualified for the previous year, you should have gotten Form PTR-2 in the mail. Form PTR-2 is not available on the state website. If you qualify to use Form PTR-2, and you did not receive a personalized application, call the Property Tax Reimbursement Hotline at 1-800-882-6597 to request one be mailed to you. 

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NJ Real Estate Tax Refund

It's not clear what "tax" You are referring to.

Did you leave the state of NJ and then close the sale of your home in NJ?

 

At closing you should get from your attorney a receipt for NJ Estimated Tax .

That's your documentation proof for including the "exit tax" amount on NJ-1040 Line 57 or NJ-1040NR Line 51 for reimbursement, if NJ asks you about it. You should keep it with your records.

 

@mdminuto 

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