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What is a property tax exemption?

A property tax exemption reduces or eliminates your obligation to pay property taxes on all or part of your property. Common exemptions in New Jersey include the veterans exemption, senior citizen and disabled persons exemption, and exemptions for non-profit organizations. Each exemption has specific eligibility criteria. You must apply through your municipal tax assessor.

Why It Matters

Property tax exemptions can save eligible homeowners thousands of dollars each year. Many people qualify but never apply because they do not know the programs exist.

Related Questions

How are property taxes calculated in New Jersey? How do I appeal my property tax assessment? What is the NJ annual property tax deduction? What is a tax assessment and how often is it done? How do property taxes affect my monthly mortgage payment?

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