Home Buying in Neptune>Question Details

Katie, Home Buyer in 07747

We finally found our 1st home! Does anyone know of the new tax break available in NJ for 1st time homebuyers?

Asked by Katie, 07747 Fri Jul 25, 2008

We want to be sure we are taking advantage of all the programs and incentives that NJ has to offer to first time home owners. I am not up to speed with most of these programs, and we do not qualify for low income programs and incentives. Is this new tax break available to everyone, is there a catch, how do I apply, etc? I would appreciate knowledge on this topic. Thank you!

Help the community by answering this question:

Answers

3
Katie,

The tax break is something that comes into play when you actually file your taxes. If you are a 1st-time homebuyer I would highly recommend the State's Smart Option program if you qualify. Not all banks are on the State's approved list. If you would like further information you can call me anytime direct.

Best Regards,

Jeremy S. Hill, Realtor
Keller Williams Realty
http://www.southnewjerseyhomes.com
1814 Route 70 East
Cherry Hill, NJ 08003
Office: 856.685.1651
Fax: 856.321.1414
Direct: 609.876.5817
"Your Interest 1st Always!"
1 vote Thank Flag Link Fri Jul 25, 2008
Hi Katie,

http://www.state.nj.us/dca/hmfa/consu/buyers/ownprg/firsttime.html

Check with your lender to see what the best program would be for you.
0 votes Thank Flag Link Sun Aug 10, 2008
Hi Katie,

I am not sure if you are talking about the tax breaks you can take when you file your taxes, but I do know that there are certain areas in New Jersey that are offering what they call a tax abatement. This is given to certain cities looking to revitalize their town. The city will offer tax abatements to builders/buyers to use as an incentive for buyers to purchase new construction and for builders to keep building in these areas to revitalize the community.

Take care!
Angela "Angie" Allchin
Century 21 Rauh & Johns
856-582-0366 x 172
0 votes Thank Flag Link Sat Jul 26, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer