N.J. Admin. Code § 18:14-3.8

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

Section 18:14-3.8 - Pro rata or complete revocation of deduction

(a) Where a claimant sells, transfers title to, or no longer principally occupies the dwelling house during the tax year, a post-tax year statement must be filed to prove the claimant's eligibility to claim the deduction for that portion of the tax year prior to the sale or transfer, or where the claimant no longer occupies the dwelling as his or her principal residence. The amount of any lien and tax liability shall be prorated by the tax collector upon the transfer of title based on the number of days during the tax year that entitlement to the claimant's tax deduction is established. Therefore, where a claimant sells, transfers title to, or no longer occupies the property as the principal residence during the tax year, a post-tax year statement must be filed to prove his or her entitlement to the deduction for the portion of the tax year prior to the sale, transfer, or as of the date when the property was no longer occupied as the claimant's principal residence.

(b) Upon the failure of a claimant to file the statement within the time prescribed or to submit such proof as the collector determines necessary to verify a statement that has been filed, or if it is determined that the income of any such person exceeded $ 10,000 for the tax year during which the change of circumstances occurred, the claimant's tax deduction for said tax year shall be disallowed and his or her taxes, equivalent to the amount of the deduction, shall be payable on or before June 1 of the post-tax year or, where an extension of time for filing has been granted no later than 30 calendar days after the expiration of said extension, after which date if unpaid, said taxes shall be delinquent, constitute a lien on the property, and, in addition, the amount of said taxes shall be a personal debt of said person.

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