Recipients of a $250 deduction as a Senior Citizen or as a Permanently Disabled Individual must file a statement confirming their eligibility for the deduction after the close of each tax year. This statement, called the Annual Post-Tax Tear Statement (or PD5) is mailed by the Tax Collector to each deduction recipient in January. The form must be completed, signed and returned to the Tax Collector on or before March 1st. Failure to file the form will result in the deduction being charged back for the corresponding year.
The PD5 requests the deduction recipient to confirm:
- They did not exceed an income of $10,000, not including Social Security or certain government or railroad pensions (combined income for spouses) for the deduction year just past.
- They do not anticipate exceeding the above income limit for deduction year just started.
- They still met the residency, disability, and/or marital status requirements indicated.
If the property is sold, this form must still be completed by the deduction recipient in order for the deduction to remain in a prorated amount for the portion of the year they owned the property.
Qualifications for a Veteran's or Surviving Spouses Deduction
To qualify, you must be an honorably discharged US Armed Forces war veteran or the unmarried surviving spouse of such a war veteran or the surviving spouse of a service person who served in time of war and died while on active duty.
You must be a property owner and a legal resident of New Jersey and, where applicable, prove that the deceased veteran or service person was a legal resident of New Jersey.
Eligibility criteria must be met as of October 1 of the year prior to the tax year for which deduction is claimed.
Claim Form V.S.S. (PDF 11K) must be filed with the municipal tax assessor or tax collector.
Qualifications for a Senior Citizen's/Disability/Surviving Spouse Deduction
To qualify, you must be by December 31 of year before year deduction is requested a senior citizen, age 65 or older, or a permanently and totally disabled individual, unable to be gainfully employed, or a surviving spouse, age 55 or more and age 55 at time of spouse's death.
You must be a legal resident of New Jersey for one year immediately prior to October 1st of the year before the year for which the deduction is requested
You must be an owner of and a permanent resident in the dwelling on October 1st of the year before the year for which the deduction is requested.
Income may be no more than $10,000 during the year for which the deduction is requested, excluding, with restrictions, monies received from social security or Federal Government pension, disability and retirement programs or State, County, Municipal pension, disability and retirement programs.
Claim Form PTD (PDF 15K) must be files with your municipal tax assessor or tax collector.
For more information, please feel free to visit the NJ State Division of Taxation at http://www.state.nj.us/treasury/taxation/index.html?lpt/exam.htm~mainFrame