Is NJ Homeowner Rebate taxable?

The NJ rebate is a reduction of your property tax itemized deduction. But remember to put the full amount of property taxes paid on the NJ return. ___________________________________

-----> real address on hobokeni or hobokenx

In most cases it is taxable if you claimed an itemized deduction for real estate tax on your federal tax return for the prior year. If you did not itemize deductions on your federal return for the prior year, then the rebate is not taxable. For more details see the IRS News Release at the link below, and the section on "Recoveries" in IRS Publication 525.