A1333
Type: B Origin: Assembly New Jersey Comments: 0

Increases, From 18 Percent To 30 Percent, Amount Of Rental Payments Defined As Rent Constituting Property Taxes For Purposes Of Deduction From Gross Income For Property Tax Payments.

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This federal bill proposes to raise the percentage of rental payments considered as property taxes for tax deduction purposes from 18% to 30%. This change aims to allow individuals who pay rent to deduct a larger portion of their rental expenses as property taxes when calculating their gross income.

Bill Activity

  • 2024-01-09: Introduced, Referred to Assembly State and Local Government Committee

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