The Homestead Rebate does run on a delay. Here's how.
Q. As a homeowner, I think we’re behind on receiving the Homestead Rebate, perhaps at least two years. If that is so, will the state catch up on those before this new relief goes into place? Also, as a landlord — I own two rentals — would I receive the rebate?The Homestead Rebate can get confusing, and it does run a few years late.for New Jersey residents, said David Principe, a certified financial planner with SAGEbroadview Wealth Management in Morristown.
In order to be eligible, Principe said, you must have been a New Jersey resident who owned and occupied a home in New Jersey that was your principal residence on Oct. 1, 2018. You also must have paid 2018 property taxes on that home and met the$150,000 or less for homeowners aged 65 or over, blind, or disabled, or $75,000 or less for homeowners under age 65 and not blind or disabled
If you owned more than one property in New Jersey, only file the application for the property that was your principal residence on Oct. 1, 2018, he said. If you own and occupy a property with multiple units, you would receive a prorated benefit proportional to the unit that you inhabit, he said.You must actually be required to pay property taxes on your home – some homeowners are exempt or made other municipal payments in lieu of tax, he said.
For more information, including frequently asked questions and details on how to file paper applications, check out the
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