A 3896
Caps interest rate for redemption of tax lien at nine percent per year.
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- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill proposes to limit the interest rate charged on tax liens in New Jersey to nine percent per year. Currently, the interest rate can be as high as 18 percent. This change aims to make tax lien redemption more affordable for property owners. The bill also clarifies that property owners can offer a premium instead of interest to redeem a tax lien.
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Primary sponsors
Sterley Stanley
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