If a taxpayer successfully appeals an assessment, the municipality must refund excess taxes with interest within how many days?

When a taxpayer successfully appeals an assessment in New Jersey, the municipality is obligated to refund the excess taxes that were paid. This refund process must be executed within a specific timeline, which is set at 60 days from the date of the appeal decision. This time frame is defined in the state's tax regulations to ensure that taxpayers receive their refunds and any applicable interest in a timely manner, reflecting the municipalities' responsibility for accurate tax assessments. The inclusion of interest in this refund further emphasizes the state's commitment to fairness in taxation, acknowledging that taxpayers should not be penalized for overpayment of their taxes due to an incorrect assessment.

The significance of the 60-day timeframe underscores the importance of prompt administration of tax matters, while ensuring that taxpayers are treated equitably following a successful appeal.