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Division of Taxation

Important Income Tax Changes for Tax Year 2011

Property Tax Deduction/Credit
To calculate the correct amount of property taxes paid on their New Jersey principal residence homeowners must know whether they received a homestead benefit during 2011, the amount of the benefit, and whether the benefit was paid as a credit on their 2011 property tax bill or in the form of a check. For tenants, 18% of the rent paid during the year is considered property taxes paid. Qualified residents should review the instructions in the NJ-1040 booklet for determining the amount of property taxes due and paid for 2011 (to be reported on Line 36a).

Filing Deadline
The filing deadline is April 17, 2012, for calendar year taxpayers, the same day the Federal Form 1040 is due. According to a notice issued by the Division of Taxation, the due date is April 17 instead of April 16 because of the Emancipation Day holiday in the District of Columbia.

Designated Contribution
The New Jersey Lung Cancer Research Fund has been added to the list of organizations to which taxpayers can contribute on the New Jersey tax return. To donate to the new fund, taxpayers must specify code number “11” at the “Other Designated Contribution” line.

Credit for Taxes Paid to Other Jurisdictions
The Philadelphia nonresident wage tax rate for 2011 is .034985.

Roth IRA Conversions During Tax Year 2010
Taxpayers who converted an existing IRA to a rollover Roth IRA during tax year 2010 and made a Federal election to report the income in equal installments in 2011 and 2012, must report one-half of the amount that is taxable for New Jersey purposes on their income tax return for 2011.

Credit for Excess UI/WF/SWF; DI; FLI Withheld
For 2011, the maximum employee unemployment insurance/workforce development partnership fund/supplemental workforce fund contribution was $125.80, the maximum employee disability insurance contribution was $148.00, and the maximum employee family leave insurance contribution was $17.76. Taxpayers with two or more employers who have contributed more than the maximum amount(s), must complete Form NJ-2450 to claim credit on their New Jersey tax return for the excess withheld.

Form 1099-G
The State of New Jersey is no longer mailing Form 1099-G, Certain Government Payments, to report the amount of a State tax refund a taxpayer received. State income tax refunds may be taxable income for Federal purposes for individuals who itemized their deductions on their Federal tax return in the previous year. Taxpayers who need this information to complete their Federal return can view or print their 1099-G information online.

Homestead Benefit (Rebate) Program
New Jersey residents who owned and occupied a home in New Jersey that was their principal residence on October 1, 2011, may be eligible for a homestead benefit provided the 2011 property taxes were paid and they meet certain income limits. The homestead benefit application for homeowners is not included in the NJ-1040 booklet. Information about the 2011 homestead benefit will be posted as it becomes available.

Tenants. There is no tenant rebate application available for 2011 since tenant rebates for 2009 and 2010 were suspended by the State Budget.

Note: Eligibility requirements, including income limits, and benefits available under this program are subject to change.

Property Tax Reimbursement (Senior Freeze)
The Property Tax Reimbursement (Senior Freeze) Program reimburses eligible senior citizens or disabled persons for property tax increases. Eligible residents must file a 2011 Property Tax Reimbursement Application (Form PTR-1 or PTR-2) by the extended due date of October 19, 2012. The original due date was June 1, 2012.

Income Limits With very few exceptions, all income received during the year, including income which is not required to be reported on Form NJ-1040, must be taken into account to determine eligibility for the property tax reimbursement. The limits apply regardless of marital/civil union status. However, if an applicant’s status is married/CU couple, combined income of both spouses/CU partners must be reported.

Note: Eligibility requirements, including income limits, and benefits available under this program are subject to change.

Last Updated: Tuesday, 11/17/20