Are tenants eligible for a tax rebate related to property tax paid through their rent?
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Are tenants eligible for a tax rebate related to property tax paid through their rent?
In NJ.
Asked on April 11, 2011 under Real Estate Law, New Jersey
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
No, unfortunately, tenants have no right to the property as owners. So unfortunately no matter what was paid through your rent or from your rent, those benefits are not yours to take. The benefits of property ownership include tax benefits and tax credits and of course on the other side of the spectrum property taxes and upkeep expenses. Check with your local accountant to see if you qualify for any other tax benefits. If you are considering possibly becoming a homeowner, consider reviewing your income, your costs and expenses and the housing market around you to see if perhaps you qualify for a home loan. If you do, you can consider whether rebates and credits given by the credit nowadays can help in the total cost of home ownership.
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