TAX COLLECTION
REVIEW - NJ STATE EXAM
2026
Master Exam Prep Bundle
(Verified Questions & Answers)
A+ Grade Guaranteed
,Who can redeem a tax sale certificate? Anyone, owner, Heir, prior lien holder, mtg holder, occupant (legal) - NOT A
SQUATTER
What would be considered the "paramount lien holder"? The most recently purchased lien
The tax sale cert shall be delivered to the assignee AFTER TRUE
When the final judgment is recorded under Chapter 149,
Public Laws of 1943. (Jones Act Assignment) T/F
Maximum rate of redemption that can be bid is - 18% and at 0% a premium may be paid.
The officer holding the sale or his ___ prepares the successor
certificate of sale
a tax sale certificate be sold for more than the amount True-you can if you have postponed the sale (up to 8 weeks) and you have to
advertised in the tax sale notice of sale. recalculate the sale amount.
Is there an option to receive a cert of redemption at the yes, true
time of redemption or wait for the original tax sale
certificate properly endorsed for cancellation to be returned
to the tax collector
Municipal holds cert of sale, amount for redemption shall All subsequent muni liens w/interest, penalties and costs, if it is redeemed after the
include: cert of sale is issued.
When there is an agreement by resolution to omit from tax 5 years
sale unpaid taxes which regular monthly installment
payments are being made, said agreement cannot exceed
________ years
A "notice of intent" must be mailed to interested parties 30 days prior to the filing of the foreclosure complaint.
Taxes on lands shall be a lien on lands on which they are First day of the fiscal year.
assessed on and after
Redemption in installments may not exceed a period of Three years.
_________ years
Installment plan prior to tax sale cannot exceed _____ 5 years
years
Once there is a municipal lien, redemption in installments 3 years
cannot exceed ________- years
The governing body must approve by resolution any partial True (this refers to installment plan prior to tax sale)
payment plans before the tax collector can accept a partial
payment towards a delinquency. T/F
2026
, At tax sale the maximum rate of interest, of _________that 18% and is set by state statute.
can be bid is set by the _________________
A municipality may sell it's total tax levy at a public sale, sealed bid or public auction
which may be done by __________________ or
_________________
A municipality may, by resolution, sell at private sale an assignment
municipality held tax certificate. This is more commonly
known as _________________
The maximum fee for a tax search reimbursement to the $50.00, can be done by resolution or put into your fee ordinance
lien holder is ____.
when the redemption is made prior to the issuance of the Amount paid at tax sale plus the interest.
certificate, the lien holder is entitled to______
Examples of special assessments for local improvments Widening of a street, paving, Sidewalks, curbs and sewer lines, street lighting
How can a tax collector be released from collection of tax? By proper appeal by the County Bd of Taxation
An appeal from judgment rendered by the County Bd of State Tax Court - 45 Days
Taxation may be further appealed to ________________
with ___________ days of judgment
Tax Collector - Annual Report (CY) due - (SFY) March 1 - Aug 29
In ___________of each year, the tax collector must submit June - State
certification of tax deductions allowed in order to get
reimbursement from the:
4 forms of government County, Municipal, School and Special (fire)
Counties are considered a good mechanism to provide Libraries, roads, surrogate, jails, sheriffs, elections and health are some of the
regional services. services that they supply.
What is the formula for determining the tax rate? Amount of Tax levy/assessed value x100= tax rate
Formula for estimated tax rate Multiply previous year tax levy by 95% and 105% to determine an est tax rate
w/CFO
At a tax sale the maximum rate of interest, which can be State Statute
bid is set by _____.
2026
REVIEW - NJ STATE EXAM
2026
Master Exam Prep Bundle
(Verified Questions & Answers)
A+ Grade Guaranteed
,Who can redeem a tax sale certificate? Anyone, owner, Heir, prior lien holder, mtg holder, occupant (legal) - NOT A
SQUATTER
What would be considered the "paramount lien holder"? The most recently purchased lien
The tax sale cert shall be delivered to the assignee AFTER TRUE
When the final judgment is recorded under Chapter 149,
Public Laws of 1943. (Jones Act Assignment) T/F
Maximum rate of redemption that can be bid is - 18% and at 0% a premium may be paid.
The officer holding the sale or his ___ prepares the successor
certificate of sale
a tax sale certificate be sold for more than the amount True-you can if you have postponed the sale (up to 8 weeks) and you have to
advertised in the tax sale notice of sale. recalculate the sale amount.
Is there an option to receive a cert of redemption at the yes, true
time of redemption or wait for the original tax sale
certificate properly endorsed for cancellation to be returned
to the tax collector
Municipal holds cert of sale, amount for redemption shall All subsequent muni liens w/interest, penalties and costs, if it is redeemed after the
include: cert of sale is issued.
When there is an agreement by resolution to omit from tax 5 years
sale unpaid taxes which regular monthly installment
payments are being made, said agreement cannot exceed
________ years
A "notice of intent" must be mailed to interested parties 30 days prior to the filing of the foreclosure complaint.
Taxes on lands shall be a lien on lands on which they are First day of the fiscal year.
assessed on and after
Redemption in installments may not exceed a period of Three years.
_________ years
Installment plan prior to tax sale cannot exceed _____ 5 years
years
Once there is a municipal lien, redemption in installments 3 years
cannot exceed ________- years
The governing body must approve by resolution any partial True (this refers to installment plan prior to tax sale)
payment plans before the tax collector can accept a partial
payment towards a delinquency. T/F
2026
, At tax sale the maximum rate of interest, of _________that 18% and is set by state statute.
can be bid is set by the _________________
A municipality may sell it's total tax levy at a public sale, sealed bid or public auction
which may be done by __________________ or
_________________
A municipality may, by resolution, sell at private sale an assignment
municipality held tax certificate. This is more commonly
known as _________________
The maximum fee for a tax search reimbursement to the $50.00, can be done by resolution or put into your fee ordinance
lien holder is ____.
when the redemption is made prior to the issuance of the Amount paid at tax sale plus the interest.
certificate, the lien holder is entitled to______
Examples of special assessments for local improvments Widening of a street, paving, Sidewalks, curbs and sewer lines, street lighting
How can a tax collector be released from collection of tax? By proper appeal by the County Bd of Taxation
An appeal from judgment rendered by the County Bd of State Tax Court - 45 Days
Taxation may be further appealed to ________________
with ___________ days of judgment
Tax Collector - Annual Report (CY) due - (SFY) March 1 - Aug 29
In ___________of each year, the tax collector must submit June - State
certification of tax deductions allowed in order to get
reimbursement from the:
4 forms of government County, Municipal, School and Special (fire)
Counties are considered a good mechanism to provide Libraries, roads, surrogate, jails, sheriffs, elections and health are some of the
regional services. services that they supply.
What is the formula for determining the tax rate? Amount of Tax levy/assessed value x100= tax rate
Formula for estimated tax rate Multiply previous year tax levy by 95% and 105% to determine an est tax rate
w/CFO
At a tax sale the maximum rate of interest, which can be State Statute
bid is set by _____.
2026
