Increases maximum gross income tax deduction for homestead property taxes paid to $25,000.

This bill increases the maximum gross income tax deduction allowed for homestead property taxes paid. It raises the amount of the maximum deduction from gross income allowed for homestead property taxes paid in three provisions to $25,000. This change recognizes the increasing burden of property taxes and rents on New Jersey families.

Increases maximum gross income tax deduction for homestead property taxes paid to $25,000.

This bill increases the maximum gross income tax deduction allowed for homestead property taxes paid. It raises the amount of the maximum deduction from gross income allowed for homestead property taxes paid in three provisions to $25,000. This change recognizes the increasing burden of property taxes and rents on New Jersey families.