N.J. Admin. Code § 18:14-3.1

Current through Register Vol. 56, No. 21, November 4, 2024

Section 18:14-3.1 - Approving claim for deduction

(a) Where an application is approved by the assessor, the claimant remains responsible for a contingent liability for taxes in the deduction amount in the event the deduction is subsequently disallowed based on income, the transfer of the property title, or the failure to meet any other prerequisites to qualify for the deduction. Approved claims for deductions by resident-shareholders residing in cooperatives or mutual housing associations allowed by the assessor or collector, shall be recorded on an official notice listing qualified residents to be provided to assessors by qualified cooperatives or mutual housing associations pursuant to N.J.S.A. 54:4-8.55. Assessors shall provide a copy of the aforesaid notice to tax collectors noting individual amounts approved.

(b) Where an application is filed and allowed by the collector he or she shall determine the amount of the reduction in tax to which the claimant is entitled and shall allow such amount as an offset against the tax then remaining unpaid.

1. If the amount allowable as an offset exceeds the amount of the tax then unpaid for that tax year, or if the application for deduction is not filed with the collector until after all taxes for the tax year have been fully paid, the claimant may make application to the governing body of the taxing district for a refund of any tax overpaid, without interest, and the governing body may, in its discretion, direct the return of any tax determined by it to have been overpaid for the tax year by reason of claimant's failure to make timely application. In no event, however, may an application for a real property tax deduction for any previous tax year be allowed by any assessor, collector, or governing body.

2. Where an application for a real property tax deduction is filed with and allowed by a collector he or she shall promptly transmit such application with all exhibits attached, or a photocopy of the application and attached exhibits, to the assessor of the taxing district. Upon receipt of the application and attached exhibits, the assessor shall review the application and if approved by him or her, it shall have the same force as if originally filed with him or her.

N.J. Admin. Code § 18:14-3.1

Amended by 49 N.J.R. 277(a), effective 2/6/2017