Bill Text: NJ A3215 | 2014-2015 | Regular Session | Introduced

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Bill Title: Extends from 60 days to 120 days amount of time for municipality to refund excess property taxes paid following successful property assessment appeal.

Spectrum: Partisan Bill (Democrat 5-0)

Status: (Introduced - Dead) 2014-05-15 - Introduced, Referred to Assembly State and Local Government Committee [A3215 Detail]

Download: New_Jersey-2014-A3215-Introduced.html

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ASSEMBLY, No. 3215

STATE OF NEW JERSEY

216th LEGISLATURE

 

INTRODUCED MAY 15, 2014

 

 

Sponsored by:

Assemblyman  PATRICK J. DIEGNAN, JR.

District 18 (Middlesex)

Assemblywoman  ANGELICA M. JIMENEZ

District 32 (Bergen and Hudson)

Assemblywoman  CELESTE M. RILEY

District 3 (Cumberland, Gloucester and Salem)

 

 

 

 

SYNOPSIS

     Extends from 60 days to 120 days amount of time for municipality to refund excess property taxes paid following successful property assessment appeal.

 

CURRENT VERSION OF TEXT

     As introduced.

  

An Act extending the time frame for the refunding of excess property taxes following a successful assessment appeal and amending P.L.1975, c.361.

 

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

 

     1.  Section 2 of P.L.1975, c.361 (C.54:3-27.2) is amended to read as follows:

     2.  Except as required in paragraph (2) of subsection a. of section 2 of P.L.1983, c.137 (C.54:4-134), in the event that a taxpayer is successful in an appeal from an assessment on real property, the respective taxing district shall refund any excess taxes paid, together with interest thereon from the date of payment at a rate of 5% per annum, less any amount of taxes, interest, or both, which may be applied against delinquencies pursuant to section 2 of P.L.1983, c.137 (C.54:4-134), within [60] 120 days of the date of final judgment.

(cf:  P.L.2012, c.19, s.1)

 

     2.  This act shall take effect immediately.

 

 

STATEMENT

 

     This bill would increase from 60 days to 120 days the time frame in which a municipality has to refund excess property taxes paid by a taxpayer who has won an appeal of a property assessment.

     The property tax refund must include interest, at a rate of 5% per year, from the date the taxes were paid, and the municipality must subtract from that refund any delinquent amount of property taxes or interest thereon owed on the property.