New Jersey Statutes 54:4-8.27. State payment to municipality, refund upon payment
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Terms Used In New Jersey Statutes 54:4-8.27
- collector: when used in relation to the collection of taxes or water rents or other public assessments, includes all officers charged with the duty of collecting such taxes, water rents or assessments, unless a particular officer is specified. See New Jersey Statutes 1:1-2
- Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
3. The State shall annually pay to the tax collector of each municipality the total amount of property tax deferred pursuant to section 1 of P.L.2015, c.277 (C. 54:4-8.25) plus 2%, in the same manner as veteran’s property tax deductions are reimbursed pursuant to section 5 of P.L.1997, c.30 (C. 54:4-8.24). The tax collector of each municipality shall refund this amount to the State in installments upon collection of the deferred payments from the individual taxpayers along with any interest collected for payments made after the expiration of a taxpayer’s grace period.
L.2015, c.277, s.3.