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New Jersey Statutes Title 40. Municipalities and Counties 40 § 62-105.25

Current as of January 01, 2024 | Updated by FindLaw Staff

a. The board of water commissioners shall certify the amount of money voted at the annual district meeting to the assessor of the township in which said district is situate, who, except as provided in subsection b. of this section, shall assess said money on the inhabitants of said district and their estates and taxable property therein in the same manner as township taxes are assessed and the money shall be assessed, levied and collected at the same time and in the same manner as other township taxes.

The collector or treasurer of the township in which said district is situate shall pay over all moneys so assessed to the treasurer or custodian of funds of said water district one-half on or before July 1 in the year for which said taxes are levied and the other half on or before January 1 of the following year, to be held and expended for the purpose of providing and maintaining means for supplying water in such district.

b. Property within the water district shall be exempt from the assessment authorized in subsection a. of this section if:

(1) The water supplied by the water district is not reasonably available to the owner of the property; and

(2) Prior to each annual assessment the board of water commissioners determines that the exemption would not adversely affect the ability of the water district to meet principal reduction and interest payments on outstanding bonds issued thereby.

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Cite this article: FindLaw.com - New Jersey Statutes Title 40. Municipalities and Counties 40 § 62-105.25 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-40-municipalities-and-counties/nj-st-sect-40-62-105-25/

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