New Jersey § 54:4-8

§ 54:4-8.

An application for a deduction hereunder may be filed with the assessor of the taxing

district on or before December 31 of the pretax year. If an application is approved by the assessor, he shall allow a deduction from the

taxes assessed against the real property assessed to the claimant as described therein

and shall indicate upon the assessment list and duplicates the approval thereof in

such manner as shall be prescribed by rules of the Director of the Division of Taxation

together with the proportionate share of such property deemed to be owned by the claimant

for the purposes of this act if he is not the sole owner thereof. Upon approval of the application for a tax deduction the tax collector shall note

in his records the existence of a contingent liability for taxes in the amount of

the deduction in the event the deduction is subsequently disallowed on the basis of

the taxpayer's income, the transfer of title to the property to a person not entitled

to such deduction, or on the basis of the failure to meet any other prerequisites

required by this act for a tax deduction, which contingent liability shall be reported

on any tax search made on the property for which the deduction was approved. The application, if not filed with the assessor within the time aforementioned, may

be filed with the collector during the tax year and upon approval by the collector

of such application he shall determine the amount of the reduction in tax to which

the claimant is entitled and shall allow said amount as an offset against the tax

then remaining unpaid. If the amount allowable as an offset shall exceed the amount of the tax then unpaid

for that tax year, or if the application for a tax 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 municipality constituting the taxing

district for the refund of any tax overpaid, but 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 for a tax deduction;

provided, however, that no application for a tax deduction for any previous tax year

shall be allowed by any assessor, collector or governing body. Where an application for a 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.