54:4-100 - Principal sum not to be abated unless market value exceeded - New Jersey Statutes

54:4-100.  Principal sum not to be abated unless market value exceeded
    No abatement of the principal sum of any such taxes, assessments or other municipal charges shall be made unless the governing body shall be satisfied that the market value of the property in question upon or against which such taxes, assessments or other charges have been levied, is less than such principal sum, or unless such governing body shall be satisfied that the taxes,  assessments or other municipal charges are illegal in whole, or in part, or  unless the proceedings taken to levy or enforce them are contrary to law.   Where the taxes, assessments or other municipal charges concern personal  property only, no such abatement shall be made unless the governing body shall  be satisfied that the market value of the personal property which is subject to  distraint to enforce payment of the said taxes, assessments or other municipal  charges is less than the said principal sum.

     Amended by L.1949, c. 202, p. 668, s. 1.