54:5-7 - Assessments for municipal improvements, continuous liens - New Jersey Statutes

54:5-7  Assessments for municipal improvements, continuous liens.

54:5-7.  All assessments for benefits for municipal improvements, including, but not limited to local improvements pursuant to R.S.40:56-21, shall be a continuous lien on the land on which they are assessed on and after the date fixed in the laws, or the effective date of the ordinance or resolution, as the case may be, authorizing the assessment, or if no date is so fixed, then on and after the date on which they are payable.  The lien shall be considered a statutory lien for all purposes, including the federal bankruptcy code, regardless of whether or not the amount of the assessment has been determined at the time that the lien attaches to the land.  A confirmation hearing process to determine the amount of an assessment, such as is set forth in R.S.40:56-21, shall not affect the commencement or validity of a lien under this section.  All subsequent interest, penalties and costs of collection which thereafter accrue shall be added to and be a part of the initial lien.

Amended 2002, c.15, s.11.