New Jersey lawmakers have passed a new bill that would allow homeowners to wiggle out of paying property taxes.
The State Senate's 28-9 vote on Monday lets cities create charitable organizations to accept property taxes so residents can declare them as deductible contributions.
The measure would restore the limitless tax breaks once allowed on state and local property taxes — breaks now capped at $10,000 under President Donald Trump's tax reform measures.
But the bill, which now goes to the State Assembly, will likely face tough federal scrutiny. In fact, skeptics believe the IRS is unlikely to permit the change, U.S. News & World Report says.
New Jersey homeowners pay some of the highest property taxes in the country. They shelled out a record average of $8,690 in 2017, state data shows.
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