2010-07.doc - LFN 2010-7 February 26 2010 Contact...

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2009 Tax Lien Law Revision P.L. 2009, c. 320 Newly enacted P.L.2009, c.320 (A-1619) revised various statutes concerning sale of tax and other municipal liens. The law took effect on January 18, 2010 and a copy of the legislation as enacted is attached to this Notice. Tax collectors, attorneys involved in lien collection and enforcement, and lien holders should review its provisions carefully. The following summary is based on the statements that are part of the legislative history (the item numbers refer to section numbers of the bill). As an overview, this Notice does not substitute for tax collectors carefully reviewing the individual changes. 1. N.J.S.A. 54:5-19 clarifies that a municipality may hold either a standard tax sale (the sale of liens after the close of the fiscal year) or an accelerated tax sale (the sale of liens during the fiscal year). The previous language of the statute, authorizing the sale of tax liens had been criticized as confusing for many new tax collectors, and amendment to the previous statute provides for
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  • Summer '17
  • allen dasu
  • tax sale

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