N.J.S.A. 54:4-6.6 — Computation of property tax rebate

54:4-6.6. Computation of property tax rebate 5. The property tax rebate for each tenant shall be computed by the property owner by subtracting from the total property tax reduction as calculated pursuant to section 4 of P.L.1976, c.63 (C.54:4-6.5) an amount equal to the proportion that nonresidential rents and the rental value of the owner's or the owner's employee's personal occupancy bears to total rental value, and then by dividing the remaining property tax reduction among all residential tenants in proportion to the rent each is required to pay. L.1976, c.63,s.5;amended 1977, c.81, s.4; 1998, c.15, s.3.

This is the verbatim text of N.J.S.A. 54:4-6.6, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.