New Jersey § 54:4-8
Full text of New Jersey New Jersey Statutes § 54:4-8, with citation guidance and answers to common questions.
§ 54:4-8.
When title to a homestead for which a Stay NJ property tax credit is claimed, is held
by an eligible claimant and another or others, either as tenants in common or as joint
tenants, the eligible claimant shall not be allowed a Stay NJ property tax credit
in an amount in excess of the eligible claimant's proportionate share of the taxes
assessed against the homestead, which proportionate share, for the purposes of P.L.2023, c. 75 ( C.54:4-8.75a et al.), shall be deemed to be equal to that of each of the other tenants, unless
it is shown that the interests in question are not equal, in which event the eligible
claimant's proportionate share shall be as shown. Nothing herein shall preclude more than one tenant, whether title be held in common
or joint tenancy, from claiming a Stay NJ property tax credit from the taxes assessed
against the property so held, but no more than the equivalent of one full Stay NJ
property tax credit in regard to such homestead shall be allowed in any year. In any case in which the eligible claimants cannot agree as to the apportionment
thereof, such Stay NJ property tax credit shall be apportioned between or among them
in proportion to their interest. Property held by husband and wife, as tenants by the entirety, shall be deemed wholly
owned by each tenant, but no more than one full Stay NJ property tax credit in regard
to such homestead shall be allowed in any year. Right to claim a Stay NJ property tax credit hereunder shall extend to a homestead
the title to which is held by a partnership, to the extent of the eligible claimant's
interest as a partner therein, and by a guardian, trustee, committee, conservator
or other fiduciary for any person who would otherwise be entitled to claim such Stay
NJ property tax credit hereunder, but not to a homestead the title to which is held
by a corporation; except that a residential shareholder in a cooperative or mutual
housing corporation shall be entitled to claim a Stay NJ property tax credit if the
residential shareholder is otherwise eligible to receive it, to the extent of the
proportionate share of the taxes assessed against the homestead of the corporation,
or any other entity holding title, attributable to the residential shareholder's unit
therein.
Frequently Asked Questions About New Jersey § 54:4-8
What does New Jersey Statutes § 54:4-8 cover?
Section 54:4-8 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 54:4-8?
A common citation format is "New Jersey Statutes § 54:4-8" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 54:4-8 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.