S1879 — Expands deduction allowed under gross income tax for property taxes paid by homeowners and tenants to increase maximum deduction from $10,000 to $35,000 and to include amounts paid on second homes.

S1879 — Expands deduction allowed under gross income tax for property taxes paid by homeowners and tenants to increase maximum deduction from $10,000 to $35,000 and to include amounts paid on second homes. · Informed CitizenryThis bill proposes to increase the maximum homestead property tax deduction under the New Jersey Gross Income Tax Act from $10,000 to $35,000. The legislation expands the deduction to include prope…Open in Informed Citizenry