40A:4-29 - Receipts from delinquent taxes
40A:4-29.Ā Receipts from delinquent taxes
Delinquent taxes shall consist of taxes levied for prior fiscal years unpaidĀ and owing to the local unit, and in the case of a municipality, also the lienĀ value of tax titles to real estate standing in the name of the municipality.
The maximum amount which may be anticipated asĀ "Receipts from Delinquent Taxes"Ā shall be computed in the manner set forth in the following paragraph.
A determination of the percentage of collection of delinquent taxes for theĀ year immediately preceding the fiscal year.Ā This percentage shall be determined by dividing the amount of prior year's delinquent taxes collected byĀ the amount of delinquent taxes unpaid and owing on the first day of the year,Ā after adjusting such amount by the addition of prior year's taxes added duringĀ such fiscal year, less any prior year's delinquent taxes abated, remitted orĀ canceled during such year.Ā The maximum which may be anticipated is the sumĀ produced by the multiplication of the amount of delinquent taxes unpaid andĀ owing to the local unit on the first day of the current fiscal year by theĀ percentage of collection of delinquent taxes for the year immediately precedingĀ the current fiscal year.
L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
Ā
Delinquent taxes shall consist of taxes levied for prior fiscal years unpaidĀ and owing to the local unit, and in the case of a municipality, also the lienĀ value of tax titles to real estate standing in the name of the municipality.
The maximum amount which may be anticipated asĀ "Receipts from Delinquent Taxes"Ā shall be computed in the manner set forth in the following paragraph.
A determination of the percentage of collection of delinquent taxes for theĀ year immediately preceding the fiscal year.Ā This percentage shall be determined by dividing the amount of prior year's delinquent taxes collected byĀ the amount of delinquent taxes unpaid and owing on the first day of the year,Ā after adjusting such amount by the addition of prior year's taxes added duringĀ such fiscal year, less any prior year's delinquent taxes abated, remitted orĀ canceled during such year.Ā The maximum which may be anticipated is the sumĀ produced by the multiplication of the amount of delinquent taxes unpaid andĀ owing to the local unit on the first day of the current fiscal year by theĀ percentage of collection of delinquent taxes for the year immediately precedingĀ the current fiscal year.
L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
Ā