On average, the 33.4 percent of New Jersey homeowners who file for the mortgage interest deduction on their taxes claim $13,215, according to the nonpartisan Tax Foundation after reviewing 2008 tax returns. That ranks New Jersey 10th among states in terms of the amount of mortgage deduction claimed. California, with $18, 876; Hawaii, with $16,730; and Nevada, with $15,502 are numbers one, two and three. The average for the country as a whole was $12,221. New Jersey ranked sixth for percentage of returns claiming the deduction. Maryland won the top spot in that category, with 37.9 percent of residents filing a tax deduction claim, for an average of $14,162.
NJ Spotlight News exists in part thanks to generous foundation support, including our founding funders the Community Foundation of New Jersey, the John S. and James L. Knight Foundation, and the William Penn Foundation -- as well as the Robert Wood Johnson Foundation, the Fund for New Jersey, the Peter and Carmen Lucia Buck Foundation, the Wyncote Foundation, and the Healthcare Foundation of New Jersey, and the Nicholson Foundation.
Major funding for NJ Spotlight News provided by Horizon Blue Cross Blue Shield of New Jersey, New Jersey Education Association, New Jersey Manufacturers Insurance Group, Orsted, PSEG Foundation, the Robert Wood Johnson Foundation, and RWJ Barnabas Health.
Additional support for NJ Spotlight News is made possible by the Robert Wood Johnson Foundation, PSEG Foundation, Wells Fargo Foundation, the E.J. Grassmann Trust, the F.M. Kirby Foundation, the Hyde and Watson Foundation, and the Union Foundation.
Major funding provided for Chat Box with David Cruz provided by New Jersey Manufacturers Insurance Group, New Jersey Education Association, and Fuel Merchants Association of New Jersey. Promotional support provided by InsiderNJ.
Major funding for Reporters Roundtable with David Cruz provided by RWJBarnabas Health, New Jersey Manufacturers Insurance Group, and New Jersey Realtors. Promotional support provided by New Jersey Business Magazine.