NJ Could Recover Millions In Overpaid Tax Rebates

TRENTON, N.J. (AP) — The state comptroller's office says it has discovered thousands of residents who got bigger tax credits than they were owed and New Jersey could see millions of dollars returning to the treasury after the funds are recovered.

The comptroller said in a statement released Thursday that some 3,771 taxpayers got a full rebate under the Homestead Property Tax Credit even though their properties have multiple units.

The state expects to recover $1.6 million from those taxpayers.

State officials also say other property owners may have improperly received 100 percent of credits under other tax incentives they were not rightfully owed.

The comptroller is recommending the state Division of Taxation pursue the money, which could save the state millions of dollars.

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