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Explore: Tax Benefits of Home Ownership

Tax Benefits of Home Ownership

In tax lingo, your principal residence is the place where you legally reside. It’s typically the place where you spend most of your time, but several other factors are also relevant in determining your principal residence. Many of the tax benefits associated with homeownership apply mainly to your principal residence — different rules apply to second homes and investment properties. Here’s what you need to know to make owning a home really pay off at tax time.

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New Jersey Ranks High!…..For Property Taxes

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For yet another year, residents of New Jersey have been subject to among the highest property taxes in the nation. Data compiled by the NJ Department of County Affairs shows that property owners paid an average of $8,549 in property taxes for 2016, representing a 2.35% increase from the previous year. Continue reading “New Jersey Ranks High!…..For Property Taxes”

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