What is a tax abatement and do I qualify?
By Bob Millaway, South Jersey Community Expert & REALTOR®
A tax abatement is a temporary reduction or exemption from property taxes, typically offered to encourage new development or redevelopment. In New Jersey, abatements are commonly available for new construction, veterans, seniors, and homeowners who make certain improvements like solar installations. Eligibility varies by municipality, so check with your town's tax assessor.
Why It Matters
Tax abatements can save homeowners thousands of dollars annually. Many eligible homeowners miss out because they do not know the programs exist.
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