SCHEDULE OF RESERVE FOR TAX APPEALS PENDING -
N.J. DIVISION OF TAXATION APPEALS (N.J.S.A. 54:3-27)
| Debit | Credit | ||
|---|---|---|---|
| Balance - January 1, 2022 | xxxxxxxxxx | 128,287.06 | |
| Taxes Pending Appeals | 128,287.06 | xxxxxxxxxx | xxxxxxxxx |
| Interest Earned on Taxes Pending Appeals | xxxxxxxxxx | xxxxxxxxx | |
|
Contested Amount of 2022 Taxes Collected which are Pending State Appeal (Item 14, Sheet 22) |
xxxxxxxxxx | ||
| Interest Earned on Taxes Pending State Appeals | xxxxxxxxxx | ||
| Raised in Budget | 100,000.00 | ||
| Cash Paid to Appellants (Including 5% Interest from Date of Payment) | 3,500.00 | xxxxxxxxx | |
|
Closed to Results of Operation (Portion of Appeal won by Municipality, including Interest) |
xxxxxxxxx | ||
| Balance - December 31, 2022 | 224,787.06 | xxxxxxxxx | |
| Taxes Pending Appeals* | 224,787.06 | xxxxxxxxxx | xxxxxxxxx |
| Interest Earned on Taxes Pending Appeals | xxxxxxxxxx | xxxxxxxxx | |
|
*Includes State Tax Court and County Board of Taxation Appeals Not Adjusted by December 31, 2022 |
228,287.06 | 228,287.06 | |
pelster@somervillenj.org
Signature of Tax Collector
License #
Date