When calendar year taxes payable, delinquent

54:4-66. a. Taxes for municipalities operating under the calendar fiscal year shall be payable the first installment as hereinafter provided on February 1, the second installment on May 1, the third installment on August 1 and the fourth installment on November 1, after which dates if unpaid, after subtracting the amount of property tax credit as defined in section 1 of P.L.2018, c.11 (C.54:4-66.6), the taxes shall become delinquent and remain delinquent until such time as all unpaid taxes, including taxes and other liens subsequently due and unpaid, together with interest have been fully paid and satisfied, which payment and satisfaction may be by property tax credit as defined in section 1 of P.L.2018, c.11 (C.54:4-66.6);

b. From and after the respective dates hereinbefore provided for taxes to become delinquent, the taxpayer or property assessed shall be subject to the interest and penalties hereinafter prescribed;

c. The dates hereinbefore provided for payment of the first and second installments of taxes being before the true amount of the tax will have been determined, the amount to be payable as each of the first two installments shall be one-quarter of the total tax finally levied against the same property or taxpayer for the preceding year or, if directed to do so for the tax year by resolution of the municipal governing body, one-half of the tax levied for the second half of the preceding tax year, as appropriate; and the amount to be payable for the third and fourth installments shall be the full tax as levied for the current year, less the amount charged as the first and second installments; the amount thus found to be payable as the last two installments shall be divided equally for and as each installment. An appropriate adjustment by way of discount shall be made, if it shall appear that the total of the first and second installments exceeded one-half of the total tax as levied for the year;

d. (Deleted by amendment, P.L.1994, c.72).

e. Taxes and applicable property tax credit, as defined in section 1 of P.L.2018, c.11 (C.54:4-66.6), may be received and credited as payments at any time, even prior to the dates hereinbefore fixed for payment, from the property owners, their agents or lien holders; however, no interest shall accrue until the delinquency date. Up to and including the payment date for each quarter, priority of payment shall be given to the property owner when third party tax liens exist against the property.

f. Notwithstanding any law to the contrary, local property taxes due to a local unit shall be considered fully paid and satisfied if, with respect to that local unit, the amount of taxes paid for a specific local real property plus the amount of property tax credit as defined in section 1 of P.L.2018, c.11 (C.54:4-66.6) applicable to that local real property equals or exceeds the amount of local property tax due.

amended 1991, c.75, s.38; 1991, c.89, s.4; 1991, c.410, s.4; 1994, c.32, s.3; 1994, c.72, s.1; 1997, c.99, s.2; 2018, c.11, s.12.