SENATE, No. 239

 

STATE OF NEW JERSEY

 

PRE-FILED FOR INTRODUCTION IN THE 1996 SESSION

 

 

By Senator ZANE

 

 

An Act concerning property tax bills and certain municipal installment payments of county taxes, and amending S.54:4-74 and R.S.54:4-76.

 

    Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

    1. R.S.54:4-74 is amended to read as follows:

    54:4-74. a. The governing body of each municipality shall cause to be paid to the treasurer of the county, in four installments, the amount of county taxes required to be assessed and raised in such municipality, on the fifteenth day of the month in which each installment of taxes shall become payable. The amount to be payable as each of the first two installments shall be one-quarter of the total tax finally levied against the municipality for the preceding year, and the amount to be payable for the third and fourth installments shall be the full tax as levied for the current year, less the amount charged as the first and second installments. The amount thus found to be payable as the last two installments shall be divided equally for and as each installment. The governing body of each municipality shall cause to be paid to the county treasurer on December fifteenth of each year all of the taxes required to be assessed and raised by taxation in such taxing district for state school and other state purposes.

    b. Notwithstanding the requirements of subsection a. of this section, any municipality for which the county board of taxation has not filled out the table of aggregates for that municipality, as required under R.S.54:4-52, by July 1, may pay the amount to be payable to the county for the third installment according to the following schedule: one-third by August 30, one-third by September 20 and one-third by October 15.

(cf: R.S.54:4-74)

 

    2. R.S.54:4-76 is amended to read as follows:

    54:4-76. The governing body of the municipality or the county shall cause the county, local school and State taxes to be paid as and when due for payment according to subsection a. or subsection b. of R.S.54:4-74, as appropriate. If there shall not be sufficient funds in the treasury available for such payments, the governing body shall immediately borrow sufficient money and pay such taxes. The board of chosen freeholders of each county may by resolution fix the rate of discount to be allowed for the payment to the county treasurer of county taxes previous to the date on which they will become due for payment. The rate so fixed shall not exceed six per centum per annum, and shall be allowed only in case of payment on or before the thirtieth day previous to the date on which said taxes will become due for payment to the county treasurer. On any part of the taxes payable to the county treasurer and on any part of the taxes payable to the State by the county treasurer, which shall remain unpaid after the time within which they are required to be paid by this chapter, the taxing district or county in arrears shall pay to the county or State, as the case may be, interest at the rate of six per centum per annum upon the delayed payment.

(cf: P.L.1940, c.21, s.1)

 

    3. This act shall take effect immediately and shall be retroactive to January 1, 1996.

 

 

 

Allows municipalities three-payment schedule for third-quarter county taxes.