Increases maximum gross income tax deduction for homestead property taxes paid to $25,000.

This bill increases the maximum deduction for property taxes paid on a primary home (homestead) from $15,000 to $25,000 when calculating New Jersey gross income tax. It directly affects New Jersey homeowners who pay property taxes on their primary residence and claim this deduction on their state tax returns. The key change is raising the cap on the deductible amount, while maintaining existing rules about eligibility, such as requiring the property to be the taxpayer's principal residence and applying to both owners and renters of homestead units. The bill does not alter tax rates or create new taxes, only expanding the deduction limit for eligible homeowners.