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, 2025 | xxxxxxxxxx | 309,431.15 | |
| Taxes Pending Appeals | 309,431.15 | xxxxxxxxxx | xxxxxxxxx |
| Interest Earned on Taxes Pending Appeals | xxxxxxxxxx | xxxxxxxxx | |
|
Contested Amount of 2025 Taxes Collected which are
Pending State Appeal (Item 14, Sheet 22)
|
xxxxxxxxxx | ||
| Interest Earned on Taxes Pending State Appeals | xxxxxxxxxx | ||
| Raised in Budget | 75,000.00 | ||
| Cash Paid to Appellants (Including 5% Interest from Date of Payment) | xxxxxxxxx | ||
|
Closed to Results of Operation
(Portion of Appeal won by Municipality, including Interest)
|
xxxxxxxxx | ||
| Cash Paid | 872.50 | ||
| Balance - December 31, 2025 | 383,558.65 | xxxxxxxxx | |
| Taxes Pending Appeals* | 383,558.65 | xxxxxxxxx | xxxxxxxxx |
| Interest Earned on Taxes Pending Appeals | xxxxxxxxx | xxxxxxxxx | |
|
*Includes State Tax Court and County Board of Taxation Appeals Not Adjusted by December 31, 2025 |
384,431.15 | 384,431.15 | |
pelster@somervillenj.org
Signature of Tax Collector
T8560
License #
Date