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A deduction on a principal residence can be claimed only once for each property eligible under the rules governing property tax deductions in New Jersey. This limitation is in place to ensure that the tax relief intended for homeowners is not exploited through multiple claims on the same property.

The rationale behind only allowing a single claim is to create a straightforward and equitable process for homeowners. Each residential property serves as the principal residence for one taxpayer at a time; thus, they can only benefit from the deduction once per year for that property. This approach helps in maintaining the integrity of the tax system and ensures that the benefits are appropriately allocated.

This context helps clarify why options suggesting multiple claims or annual claims beyond the established limit do not align with the regulations governing property tax deductions, reinforcing the understanding that the correct answer is to claim the deduction only once per principal residence.