28 Mar How can we get property tax credit if we don’t file a return?

Q. We are not required to file a New Jersey state income tax return because our New Jersey gross income is below the filing threshold. But we do qualify for the $50 property tax credit, which we can apply for by submitting Form NJ-1040-HW. However, the instructions say the credit is included in the Homestead Rebate. We automatically receive a Homestead Rebate application in the mail every year, and we do file for the rebate and receive it. But how does the state know to include the $50 property tax credit unless we apply for it?
— Homeowner

A. Everyone wants to do what they can to lower their property taxes.

So we’re glad you asked.

Residents not required to file a tax return and who are age 65 or older and/or disabled with income below the filing threshold amount will receive their New Jersey property tax credit in one of two ways, said Michael Maye, a certified financial planner and certified public accountant with MJM Financial in Gillette.

“If you are eligible to get the New Jersey Homestead Rebate you will receive the New Jersey property tax credit via the Homestead Rebate process,” Maye said. “If you are not eligible for the Homestead Rebate, then you would need to file NJ-1040-HW.”

He said according to state instructions, you do not need to file both the Homestead Rebate and NJ-1040-HW. Also, it clearly states not to file both a NJ-1040 and an NJ-1040HW, he said.

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This story was originally published on March 28, 2022.

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