State Summary

• Tax Collection Method: Liens
• Tax Collection Entity: Tax Collector
• Property/Tax Records Administrator: Assessor
• Taxes Due: Property tax payments are paid in four equal installments with due dates of August 1, November 1, February 1, and May 1
• Taxes Delinquent: Property tax bills become delinquent 10 days after the due dates
• Tax Sale Date/Period: Many New Jersey municipalities hold tax sales between June and October
• Tax Sale Registration Requirements: Varies
• Tax Sale Administrator: Tax Collector
• Primary Bidding Type: Bid-down Interest and then Premium (if bid down to 0%)
• Redemption Period: 2 years
• Redemption Interest Rate/Flat Penalty: 18% (maximum) simple interest per annum + 2-6% flat penalty for each year during redemption period based on the municipality and the certificate amount 
• Over-the-Counter Opportunities: No

New Jersey is a tax lien state where property taxes are collected at the municipality level. The time of the tax lien sale varies by municipality. Many municipalities hold their sales between June and October.  New Jersey municipalities use a unique bid-down interest method at public tax lien auctions. If a tax lien certificate is bid down to 0% without a winning bidder, the bidding for the certificate will continue using premium bidding. The tax lien purchaser's "overbid" amount is returned, but it does not earn interest. An "overbid" only comes into play at a New Jersey tax sale if the parcel is bid down to 0% and then the bidding continues using premium bidding.

New Jersey Municipality Reference