18:14-3.1 Approving claim for deduction
(a) Where an application is approved by the assessor, a contingent liability for taxes in the deduction amount is to be maintained should the deduction be subsequently disallowed based on income, the transfer of the property title, or the failure to meet any other prerequisites. 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 residents to be provided assessors by qualified cooperatives or mutual housing associations pursuant to N.J.S.A. 54:4-8.62(d). 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 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 deemed by it to have been overpaid 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 shall promptly transmit such application and all exhibits attached thereto, or a photostatic copy thereof, to the assessor of the taxing district. Upon receipt thereof, the assessor shall review the application and if approved by him, it shall have the same force as if originally filed with him.
Amended by R. 1991 d. 104, effective March 18, 1991. See: 22 N.J.R. 3200(b), 23 N.J.R. 883(b). In (a), added claims to be recorded on a notice listing residents and assessors to provide copy of list to collectors. Amended by R. 2009 d. 213, effective July 6, 2009. See: 40 N.J.R. 6947(a), 41 N.J.R. 2710(a). Section was "Procedure upon allowance of claim for deduction". Rewrote (a).