Quarterly tax payments become due on August 1, November 1, February 1, and May 1. The new tax law provides that a municipality may grant up to ten calendar days time in which payments may be made without interest being charged.
In accordance with the provisions of N.J.S.A. 54:4-54, the first half taxes of any year are on the basis of half the taxes of the preceding year. When the bill is rendered for the second half of the taxes, the definite amount billed for the first half will be deducted therefrom, the balance being the amount due for the second half.