2016 New Jersey Revised Statutes
Title 54 - Taxation
Section 54:4-6.6 - Computation Of Property Tax Rebate
54:4-6.6. Computation of property tax rebate
5.The property tax rebate for each tenant shall be computed by the property owner by subtracting from the total property tax reduction as calculated pursuant to section 4 of P.L.1976, c.63 (C.54:4-6.5) an amount equal to the proportion that nonresidential rents and the rental value of the owner's or the owner's employee's personal occupancy bears to total rental value, and then by dividing the remaining property tax reduction among all residential tenants in proportion to the rent each is required to pay.
L.1976, c.63,s.5;amended 1977, c.81, s.4; 1998, c.15, s.3.
Disclaimer: These codes may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
