Is a Mt. Laurel contribution tax deductible?
In NJ, there's a statewide affordable housing initiative that grew out of a case involving the town of Mt. Laurel. As a practical matter, it requires those building new homes to make a monetary contribution to their town so that the town can fulfill its court-ordered requirement to provide affordable housing.
My wife and I recently built a home and had to pay this fee, which was approximately $2000.
Does anyone know whether this contribution is tax deductible at the federal or state level and if so, where I would claim it? I've performed a Google search but didn't find anything.
Much obliged to anyone who can help.