Title 54, Title 54: TAXATION

54:4-2.27. Time for establishment of percentage level of taxable value; uniform application; alteration; failure to establish Each county board of taxation shall, by resolution, establish the percentage level of taxable value of real property on or before June 1, 1964 as to the t…

54:4-2.2a. State property defined As used in this act: "State property" means land and improvements owned by the State and includes but shall not be limited to State offices, hospitals, institutions, schools, colleges, universities, garages, inspection stations, warehouses, barra…

54:4-2.2b. State property; assessment and subjection to in lieu tax payment Notwithstanding the provisions of any other law and to compensate municipalities for the impact upon local government costs of local services to State property, such property shall be assessed and subject…

54:4-2.2c. Statements of taxable value Commencing with the tax year 1977, each assessor annually on or before September 15 shall prepare and send to the Director of the Division of Taxation on a form prescribed by him statements of the taxable value assessments as if the same wer…

54:4-2.2d. Review and revision of list and assessment by director; notice; finality of determination by director Upon the receipt of the assessments of State property, the director shall review and revise the list and the assessment of any parcel of State property, and annually o…

54:4-2.2e. State's liability for in lieu tax payments; computation; limitations After completion of the review of the assessments of State property, the director shall compute the State's liability for in lieu tax payments in each municipality affected. The in lieu payment shall …

54:4-2.2e1. Adjustments to in lieu of tax payment Notwithstanding the provisions of section 5 of P.L.1977, c.272 (C.54:4-2.2e), if the State has provided, or by July 5 of the year immediately succeeding the year of the director's computation pursuant to that section is scheduled …

54:4-2.2f. Certification of amount of liability Upon completion of the review of assessments of State property and the calculation of the State's liability for in lieu tax payments, the director shall certify to the State Treasurer, on or before December 1, 1977, and on or before…

54:4-2.2g. Annual appropriation; inclusion in budget In lieu payments for local services to State property shall be appropriated for the tax year 1978 and annually thereafter and the State Treasurer shall include in his budget request for State aid to municipalities the funds nec…

54:4-2.2h. Anticipation by municipalities in preparation of annual budget Any municipality in which State property is situated and which shall qualify under the provisions of this act may anticipate its in lieu tax payment by the State as revenue in preparing its annual budget. L…

54:4-2.2i. Payment; dates In lieu tax payments for local services to State property shall be made in two equal annual installments on July 5 and November 1. L.1977,c.272,s.9; amended 1990,c.16,s.2.

54:4-2.2j. Appropriation lower than amount necessary for full funding; apportionment of payments In the event that an appropriation made for any year is less than the amount required for full payment in lieu of taxes to each municipality, the amount otherwise payable to each muni…

54:4-2.2k. Rules and regulations; access to facts and information The director is authorized to make such rules and regulations and to require such facts and information from local assessors, county boards of taxation and agencies of the State Government as he may deem necessary …

54:4-2.3. Exempt property leased to person whose property is not exempt When real estate exempt from taxation is leased to another whose property is not exempt, and the leasing of which does not make the real estate taxable, the leasehold estate and the appurtenances shall be lis…

54:4-2.31. Personal property classifications; rules and regulations The director shall make, promulgate and enforce uniform rules and regulations for ascertaining whether property is real or personal and for identifying and determining the several personal property classification…

54:4-2.32. Partial invalidity If any clause, sentence, paragraph, section or part of this act shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operation…

54:4-2.33. Repeals Sections 54:1-31, 54:1-32, and 54:4-3.16 of the Revised Statutes are hereby repealed but only in respect to the taxation of property for the year 1962 and thereafter. L.1960, c. 51, s. 37.

54:4-2.34. Applicability of act Section 13 of this act shall apply to taxes on tangible household personal property and personal effects due and payable in the year 1962 and thereafter, and the remainder of this act shall apply to real and personal property taxes due and payable …

54:4-2.35. Intention of legislature It is the intention of the Legislature that all pertinent statutes be revised in order that they may reflect the policies embodied in the provisions of this act, and for that purpose the State Treasurer is hereby directed to prepare, or cause t…

54:4-2.37. Time of performance Whenever, under the act to which this act is amendatory and supplementary, an act is required to be performed upon a date in 1961, such act shall be performed on the corresponding date in 1963. L.1962, c. 20, s. 2.

54:4-2.38. Time of performance Whenever, under the act to which this act is amendatory and supplementary, an act is required to be performed upon a date in 1961, such act shall be performed on the corresponding date in 1964. L.1963, c. 9, s. 2.

54:4-2.39. Return of tangible personal property used in business On or before August 1, 1963, each person owning tangible personal property used in business within the taxing district during any part of the 12-month period ending December 31, 1962 shall prepare and file with the …

54:4-2.4. Leasehold less than calendar year; proportionate assessment Where the whole or any part of the term of such leasehold estate in any calendar year is less than the whole of such calendar year, the assessment for such year shall be that proportion of the amount of the ass…

54:4-2.40. Failure to file return; penalty Any property owner required to file a return under this act, who fails or neglects to file a return within the time prescribed herein or who shall file a willfully false or fraudulent return, shall be assessed as a penalty of $25.00 per …

54:4-2.41. Use of returns; destruction The returns required to be filed under this act shall not be used as a basis for determination of any assessment or any imposition of a tax but shall be used by the director only for the purpose of compiling and tabulating statistical inform…

54:4-2.42. Confidential nature of returns (a) All returns filed pursuant to this act shall be considered confidential and privileged and neither the director nor any employee in the Division of Taxation or any employee charged with the custody of such returns or any other person …

54:4-2.43. Co-operation and assistance of assessors and public officials The assessors and public officials of the municipalities of the State concerned with the application of the provisions of chapters 4 and 4a of Title 54 of the Revised Statutes shall co-operate with the Divis…

54:4-2.44. Standard of value; assessment The standard of value according to which tangible personal property used in business subject to taxation shall be assessed shall be the true value thereof. Such assessment shall be expressed in terms of the taxable value of the property. L…

54:4-2.45. True value of property; determination and reporting The true value of taxable tangible personal property used in business owned by a taxpayer shall be presumed to be the original cost of such property less depreciation as of the assessment date, as shown by the books a…

54:4-2.46. Time of determining true value; assessment date The true value of tangible personal property used in business subject to taxation shall be determined as of January 1, 1967 which shall be the assessment date with respect to taxes payable in the year 1968, and as of Janu…

54:4-2.47. Taxable value of tangible personal property; computation (a) The taxable value of tangible personal property used in business subject to taxation in each taxing district shall be at that percentage of true value as shall correspond to the average ratio of assessed to t…

54:4-2.48. Return of taxable personal property; filing; review, audit and determination On or before September 1, 1967, and on or before September 1 in each year thereafter, any person owning tangible personal property used in business subject to taxation on the preceding assessm…

54:4-2.49. Failure to file return; penalty If any taxpayer shall refuse or neglect to file a return as required by the preceding section, the assessor shall value the taxable personal property of such taxpayer at such amount as he may, from any information in his possession or av…

54:4-2.49a. No first year payment Notwithstanding the provisions of chapter 4 of Title 54 of the Revised Statutes, there shall be no payment of the personal property taxes required by telecommunications carriers other than local exchange telephone companies that would be paid dur…

54:4-2.5. Added Assessment Lists Assessments on such leasehold estates commencing between January first and October first of any year shall be entered in the Added Assessment List, 19, for such year, and assessments on such leasehold estates commencing between October first and J…

54:4-2.50. Rules and regulations The director shall make, promulgate and enforce uniform rules and regulations for the administration of this act. L.1966, c. 138, s. 10.

54:4-2.51. Partial invalidity If any provision of this act, or any application of any provision, is held invalid, the invalidity shall not affect other applications of the provision, or other provisions of the act, which reasonably can be given effect despite the invalidity. L.19…

54:4-2.52 Repealed 12. The following statutes are hereby repealed but only with respect to tangible personal property used in business for the year 1968 and thereafter. a. Sections 4, 5, 6, 12 and 13 of chapter 51 of the laws of 1960 and all amendments of such sections; b. Sectio…

54:4-2.53. Application of act This act shall apply to real and personal property taxes due and payable in the year 1968 and thereafter and shall not affect the obligation, lien or duty to pay any taxes, interest or penalties which have accrued or may accrue by virtue of any asses…

54:4-2.6. Collection of taxes on leasehold estate Taxes on such leasehold estate shall be collected, accounted for, and the amount thereof to be paid to the county shall be determined and paid, as are taxes on real estate entered in the Added Assessment List, 19. L.1949, c. 177, …

54:4-2.7. Appeal Lessees of such leasehold estates shall have the same right of appeal and shall be subject to the same limitations thereon as owners of real estate; and said appeals shall be governed by the laws concerning appeals from other real property, assessment of which is…

54:4-2.8. Lien upon leasehold estate Such taxes shall, until paid, be a lien upon said leasehold estate and the lessee, or his assignee, shall be personally liable therefor. L.1949, c. 177, p. 567, s. 6.

54:4-2.9. Proportionate cancellation on termination of leasehold estate Any lessee or his assignee whose estate is terminated prior to the term granted by the lessor, upon presentation to the governing body of the municipality of proof of the cancellation by said lessor of said l…

54:4-20. Exemption of personal property of life insurance companies subject to franchise tax The personal property of whatever kind and wherever located of any life insurance company incorporated under any law of this State subject under any law of this State to a franchise tax i…

54:4-23 Assessment of real property; conditions for reassessment. 54:4-23. All real property shall be assessed to the person owning the same on October 1 in each year. The assessor shall ascertain the names of the owners of all real property situate in his taxing district, and af…

54:4-23.1. Short title This act shall be known and referred to by its short title, the "Farmland Assessment Act of 1964." L.1964, c. 48, s. 1.