New Jersey A3896 caps the interest rate for tax lien redemption at nine percent per year.
New Jersey A3896 amends the interest rate cap for redeeming a tax lien. Currently, the interest rate is capped at 18 percent per year. This bill reduces that cap to nine percent per year. The change applies to the redemption of tax liens, affecting property owners and municipalities in New Jersey. The bill takes effect immediately upon enactment.
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