“A buddy of mine talked about a plan floating in NJ whereby property taxes are not stated as property taxes but half is School donations and deductible from property taxes. Example: A $16,000 property tax bill can be cut in half if the person makes up to an $8,000 school donation and then only pays $8,000 in property taxes. Both $8,000 payments are federally deductible and the State gets the full $16,000.”
So by that rationale, if I make a ‘donation’ and can take it as a full credit off of my property taxes. Will that apply to ANY legitimate charity (like NRA Gun Safety Fund), or only specific ‘school donations’?
Of course, it would only be to the State government “donations”.