There Is a Newer Version
of
this Section
2021 New Jersey Revised Statutes
Title 54 - Taxation
Section 54:4-63.28 - Time when exemption ceased as affecting time of assessment
Universal Citation:
NJ Rev Stat § 54:4-63.28 (2021)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
54:4-63.28. Time when exemption ceased as affecting time of assessment
All such property shall be assessed and taxed as follows:
If the right to exemption ceased in any tax year, the property shall be assessed and taxed as of the first day of the month following the date when the right to exemption ceased, for the proportionate part of the said year then remaining. The amount of tax shall be determined by multiplying the amount which the tax would be if such tax were for the entire year by the number of whole months remaining in the calendar year after the date when the right to exemption ceased and dividing the result by 12.
L.1949, c. 144, p. 525, s. 3. Amended by L.1974, c. 103, s. 2, eff. Oct. 1, 1974.
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.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
