Tag Archives: property

TREASURY BEGINS MAILING APPLICATIONS FOR 2023 SENIOR FREEZE ON PROPERTY TAX REIMBURSEMENT PROGRAM

On Monday, February 12, 2024, the Department of the Treasury’s Division of Taxation began mailing applications for the 2023 Senior Freeze Property Tax Reimbursement program, which has been significantly expanded for the 2023 filing season to increase the income eligibility limit substantially and simplify residency requirement for new applicants.  The deadline to file 2023 applications Read More…

TAX TIDBIT: LIKE-KIND EXCHANGES

Taxpayers pay a tax when they sell their business or investment property, and realize a gain on the sale.  However, if the property is exchanged for “like-kind” business or investment property, the gain on the sale of the property will be deferred. Like-kind property is defined broadly.  Exchanging a rental property for another rental property, Read More…