Statistics of Income 2009: New Jersey Income Tax Returns for 2007

Table 3.5 Income Tax Effect of Property Tax Deduction and Credit, Full-year Residents
By Tax Rate Schedule Type

Property Tax Deduction

Single-filer Brackets Multi-filer Brackets All Returns

New Jersey Affected Deduction Liability Affected Deduction Liability Affected Deduction Liability
Taxable Income Returns Amount Decrease Returns Amount Decrease Returns Amount Decrease
(000s) ($000) ($000) (000s) ($000) ($000) (000s) ($000) ($000)

0 - 20,000 32.4 197,951.3 2,592.0 72.3 169,581.6 2,223.2 104.7 367,533.0 4,815.2
20,000+ - 35,000 29.1 163,805.3 2,481.1 95.4 296,376.2 4,529.5 124.5 460,181.4 7,010.6
35,000 - 40,000 56.1 277,952.1 6,000.8 34.4 549,185.8 9,608.5 90.5 827,137.8 15,609.3
40,000+ - 50,000 104.6 369,520.2 19,064.4 74.1 623,581.3 11,905.2 178.8 993,101.5 30,969.6
50,000+ - 70,000 108.1 425,657.5 23,797.2 165.5 1,123,111.6 31,627.3 273.6 1,548,769.2 55,424.5
70,000+ - 75,000 49.1 232,872.5 14,830.2 39.6 1,139,895.6 61,158.6 88.7 1,372,768.1 75,988.8
75,000+ - 80,000 45.2 262,156.8 16,699.4 38.2 2,644,970.2 154,560.9 83.4 2,907,127.0 171,260.3
80,000+ - 150,000 4.6 31,859.7 2,029.5 407.2 449,776.5 28,650.1 411.9 481,636.2 30,679.6
150,000 - 500,000 6.6 49,081.3 3,135.3 238.5 662,810.6 42,352.8 245.1 711,891.9 45,488.0
at least 500,000 3.7 29,524.2 2,648.3 40.8 393,010.2 35,253.0 44.5 422,534.4 37,901.3
Total 439.7 2,040,380.8 93,278.2 1,206.0 8,052,299.6 381,869.1 1,645.7 10,092,680.5 475,147.3

0 - 20,000 37.9 1,876.3 1,876.3 15.3 765.1 765.1 53.2 2,641.3 2,641.3
20,000+ - 35,000 76.8 3,788.0 3,788.0 45.9 2,294.1 2,294.1 122.7 6,082.1 6,082.1
35,000 - 40,000 95.8 4,712.8 4,712.8 117.3 5,863.6 5,863.6 213.0 10,576.4 10,576.4
40,000+ - 50,000 27.8 1,364.8 1,364.8 71.0 3,549.5 3,549.5 98.8 4,914.3 4,914.3
50,000+ - 70,000 19.4 943.2 943.2 43.8 2,191.7 2,191.7 63.2 3,134.9 3,134.9
70,000+ - 75,000 8.9 427.5 427.5 15.8 791.6 791.6 24.7 1,219.1 1,219.1
75,000+ - 80,000 7.7 372.7 372.7 25.9 1,293.9 1,293.9 33.6 1,666.5 1,666.5
80,000+ - 150,000 0.8 39.1 39.1 4.1 206.1 206.1 4.9 245.2 245.2
150,000 - 500,000 1.0 47.1 47.1 7.1 356.1 356.1 8.1 403.2 403.2
at least 500,000 0.1 6.4 6.4 1.6 79.4 79.4 1.7 85.7 85.7
Total 276.1 13,577.7 13,577.7 347.8 17,390.9 17,390.9 623.9 30,968.6 30,968.6

Total Property Tax Relief via either deduction or credit

at most 10,000 70.3 199,827.6 4,468.3 87.6 170,346.7 2,988.3 157.9 370,174.3 7,456.5
10,000 < 20,000 105.8 167,593.2 6,269.1 141.3 298,670.3 6,823.6 247.1 466,263.5 13,092.6
20,000 < 35,000 151.9 282,664.8 10,713.6 151.7 555,049.4 15,472.1 303.6 837,714.2 26,185.7
35,000 < 50,000 132.4 370,885.0 20,429.3 145.1 627,130.8 15,454.7 277.6 998,015.8 35,884.0
50,000 < 75,000 127.5 426,600.7 24,740.4 209.3 1,125,303.3 33,818.9 336.8 1,551,904.0 58,559.3
75,000 < 100,000 58.0 233,300.0 15,257.8 55.4 1,140,687.2 61,950.2 113.4 1,373,987.2 77,208.0
100,000 < 200,000 52.9 262,529.4 17,072.0 64.1 2,646,264.1 155,854.7 117.0 2,908,793.5 172,926.8
200,000 < 250,000 5.5 31,898.8 2,068.6 411.3 449,982.5 28,856.2 416.8 481,881.3 30,924.8
250,000 < 500,000 7.6 49,128.4 3,182.3 245.6 663,166.7 42,708.9 253.2 712,295.1 45,891.2
at least 500,000 3.8 29,530.5 2,654.7 42.4 393,089.5 35,332.4 46.2 422,620.1 37,987.0
Total 715.8 2,053,958.5 106,855.9 1,553.8 8,069,690.5 399,260.0 2,269.6 10,123,649.0 506,115.9

Multi-bracket filers = married filing jointly, household head, and qualifying survivor
Single-bracket filers = single and married filing separately