OCEAN COUNTY, NJ – Your People say: Will you get a Homestead Rebate next year? Perhaps not. Renters under age 65, not disabled are affected. The

OCEAN COUNTY, NJ – Your People say: Will you get a Homestead Rebate next year? Perhaps not.

Renters under age 65, not disabled are affected.

The State Budget for fiscal year 2010 (which began on July 1, 2009) provides funding for the Homestead Rebate Program – although not at the same level as last year. Eligibility and rebate amounts for homeowners are limited based on income, and rebates for tenants will not be paid to those under age 65 and not disabled. The Budget also requires that the rebates for homeowners be based on 2006 property taxes.

Who is Eligible
Homeowners and tenants who occupied their principal residence in New Jersey on October 1, 2008, and who paid property taxes on that dwelling either directly or through rent, are eligible for a 2008 homestead rebate, provided that their gross income for the entire year does not exceed the applicable income limit:

$150,000 for homeowners age 65 or older or disabled.
$75,000 for homeowners under age 65 and not disabled.
$100,000 for tenants age 65 or older or disabled.
Under the terms of the Budget, no rebates will be issued to tenants under age 65 and
not disabled.

For more information, CONTACT US AT OUR YEAR 'ROUND OFFICES

LAKEWOOD PLAZA
1700 MADISON AVE
LAKEWOOD, NJ 08701
Phone: 732-364-3000

TOWN AND COUNTRY CENTER
1900 RTE 70 STE 218
LAKEWOOD, NJ 08701
Phone: 732-920-9333

MANCHESTER PLAZA
1039 RTE 70
MANCHESTER, NJ 08759
Phone: 732-408-9123

93 3RD AVE
BLDG E STE 505
NEPTUNE CITY, NJ 07753
Phone: 732-502-8314

Benefits
Benefit amounts differ for homeowners and tenants, and are determined by income, amount of
property taxes (or rent) paid, and whether the applicant is 65 or older or eligible to claim an exemption as blind or disabled for the tax year. The benefits under the Homestead
Rebate Program are in addition to the State’s other property tax relief programs. However, beginning this year with benefits paid for 2008, the total amount of all property tax relief benefits received (homestead rebate, property tax reimbursement, property tax deduction for senior
citizens disabled persons, and property tax deduction for veterans) cannot exceed the amount of property taxes (or rent constituting property taxes) paid on the applicant’s principal residence for the same year. Homeowners: The State Budget requires that the 2008 rebate be based
on 2006 property taxes. For purposes of calculating the 2008 rebate, the 2006 property taxes for the dwelling that was the applicant’s principal residence on October 1, 2008, will be used. If no property taxes were assessed on that dwelling for 2006, the Division of Taxation will determine the amount of property taxes that would have been due for 2006. In no case will a homeowner receive a rebate greater than the amount of property taxes actually paid.

Under the terms of the Budget, 2008 rebate amounts will be no greater than those paid for 2006 (when rebates were also based on 2006 property taxes) unless there has been a change in an applicant’s filing characteristics.


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About H&R Block
H&R Block Inc. (NYSE: HRB) is the world's preeminent tax services provider, having served more than 400 million clients since 1955 and generating annual revenues of $4.1 billion in fiscal year 2008. H&R Block provides income tax return preparation and related services and products via a nationwide network of approximately 13,000 company-owned and franchised offices and through TaxCut® online and software solutions. The company also provides business services through RSM McGladrey. For more information visit our Online Press Center at www.hrblock.com.

# # #

About H&R Block
H&R Block Inc. (NYSE: HRB) is the world's preeminent tax services provider, having served more than 400 million clients since 1955 and generating annual revenues of $4.1 billion in fiscal year 2008. H&R Block provides income tax return preparation and related services and products via a nationwide network of approximately 13,000 company-owned and franchised offices and through TaxCut® online and software solutions. The company also provides business services through RSM McGladrey. For more information visit our Online Press Center at www.hrblock.com.