56-13 Resolution to Approve Tax Appeal Deduction from Calculation of Tax Collection Rate.pdf

56-13 March 19, 2012 RESOLUTION TO PROVIDE PROPERTY TAX PAYERS THE TAX RELIEF BENEFITS OFFERED BY N.J.S.A. 40A:4-41(c)(2) WHEREAS, N.J.S.A. 40A:4-41(c)(2) states that if tax appeal judgments of the county tax board pursuant to R.S.54:3-21 et seq., or the State tax court pursuant to R.S.54:48-1 et seq., result in tax reductions for the previous fiscal year, the governing body of the municipality may elect to calculate the current year reserve for uncollected taxes by reducing the certified tax levy of the prior year by the amount of the tax levy adjustments resulting from those judgments, and WHEREAS, N.J.S.A. 40A:4-41(c)(2) states that the election of this choice shall be made by resolution, approved by a majority vote of the full membership of the governing body prior to the introduction of the annual budget pursuant to N.J.S.40A:4-5; WHEREAS, the Township of West Orange’s adjusted Tax Levy in 2012 was $201,881, 004.39; and WHEREAS, during 2012 the Township of West Orange Tax Levy was reduce by $935,320.81 in 2012 tax appeals; and WHEREAS, the Township of West Orange desires to provide its property tax payers the tax relief benefit offered by N.J.S.A. 40A:4-41 (c)(2), NOW THEREFORE, BE IT RESOLVED that the Township of West Orange does here elect to calculate the current year reserve for uncollected taxes by reducing the certified tax levy of the prior year by the amount of the tax levy adjustments resulting from those judgments. Karen J. Carnevale Victor Cirilo Municipal Clerk Council President Adopted: March 19, 2013