Collector II midterm Flashcards
List at Least 5 functions of the tax duplicate
- Identify Property Location
- Identify Tax Amount
- Identify Levy Amount
- Identify Assessed Value
- Identify Property Owner
Where does the tax duplicate come from?
County Board of Taxation
Who retains the yearly copies of the tax duplicate?
- Assessor
- Collector
- County Board of Taxation
What is the name of the State software program that creates the Tax Duplicate?
Mod IV (PAMS)
Errors in calculations or Assessments are reported to?
the Tax Assessor
Who is charged with the duty of collecting the entire amount of the tax levy?
Tax Collector
The Tax Sale process begins on the ________________ of the fiscal year.
11th day of the 11th month
The two types of Tax Sale are?
- Standard
* Accelerated
The municipality is empowered to omit properties from Tax Sale by adopting a __________ and using a method of collecting by __________ __________ __________.
ResolutionEqual Monthly Installments
Equal Monthly Installment payments require payments large enough to pay off all delinquent amounts, including interest and all other municipal charges by ___________ from the date of the agreement.
5 Years
The Tax Sale process begins with the Tax Collector preparing a list of the lands so subject to sale with the name of the owner as shown in the ________ ________ _________ _________
Most recent tax duplicate
Special Benefit Assessments due that are not paid after _______ days, of their due date are subject to tax sale. The Municipality, however, can adopt by _________, and determine that ______ ______ ______ ______ ______ be excluded from the tax sale.
30 DaysResolutionSubsequent Installments Not Yet Due
The advertised notice of sale must include?
- Block and Lot
- Total Amount Due
- Description of Parcel
- Place, Time & Date of Sale
- Owner’s Name
Interest must be calculated to ____ ____ ____ ____ in the notice of sale.
the date of sale
Copies of the Notice of Sale must be posted ____ ____ ____ ____.
In Five public places
The actual tax sale may be postponed at the discretion of the Tax Collector ____ to ____ or ____ to ____, not exceeding ____ ____.
day to dayweek to week8 weeks
The tax sale list shall be prepared how many days prior to the date of the sale?
50 Days
The fee for holding a tax sale is ____ of the lien, however, the amount is not to be less than ____ but not more than ____.
2%$15$100
When the total tax or municipal charges plus interest and costs amount to less than ____ the tax collector has the discretion to remove the item from the tax sale not to exceed ____ years.
$1005 Years
By adopting a ____ the governing body may authorize a municipal official other than the collector to bid at the tax sale but the municipality must have ____ ____ for this purpose.
ResolutionAppropriated Funds
An error requiring re advertisement of the tax sale list would be if the amount due ____ ____ than advertised.
is more
The beginning rate of interest bid at a tax sale is?
18%
When the bidding reaches ____, a bidder may offer a ____.
0%Premium
If a successful bidder does not make payment before the conclusion of the sale, then the property is ____.
resold
