By what date must uncollectible taxes be reported?

Uncollectible taxes must be reported by May 1 or November 1 as mandated by the regulations governing tax collection. This timeframe is significant because it aligns with the administrative processes for municipalities in New Jersey. On or before these dates, tax collectors are required to assess and report on the status of uncollectible debts, allowing for appropriate actions to be taken regarding the management of these balances.

By adhering to this schedule, tax collectors help ensure that the municipality can maintain accurate financial records, prepare for budget planning, and decide on necessary measures such as tax lien sales or other recovery options for outstanding taxes. Timely reporting of uncollectible taxes plays a crucial role in the financial health and transparency of local government operations.