54:5-71. Interest computed
The resolution may provide that in making calculation of interest, it may be compounded annually, and that fractions of a month may be disregarded by the collector in giving credit in the computation of interest for payments made at irregular dates.
This is the verbatim text of N.J.S.A. 54:5-71, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. KyzerLex is not a law firm and this page is not legal advice.