54:4-49.1 - Apportionment valuation; property with local property taxes in default and lien unenforceable - New Jersey Statutes

54:4-49.1.  Apportionment valuation;  property with local property taxes in  default and lien unenforceable    Notwithstanding any provisions of the law to the contrary, any real property  on which local property taxes are in default and are uncollectible except Class  II railroad property, and the lien therefor unenforceable by reason of any  order of any State or Federal court, shall not be included in the total  ratables of the taxing district wherein such real property is located for the  purpose of apportioning the amount to be raised for county and free county  library purposes, and for purposes of regional and consolidated school  districts and school districts comprising two or more taxing districts.  The  county board of taxation shall maintain appropriate records showing the value  of such real property not included in the total ratables in the apportioning of  county taxes, and determine and record the amount of such taxes annually  attributable thereto.  When by reason of the rescinding of the State or Federal  court order, or otherwise, the taxes in default or uncollectible on such real  property are collected by a taxing district, the amount of county taxes  attributable to such real property for prior years, as determined by the county  board, shall be paid by the taxing district to the county.

     L.1974, c. 168, s. 1, eff. Dec. 9, 1974.