All tangible household property and personal effects located within
the Borough of Eatontown shall not be assessed and taxed.
This article shall apply to taxes on tangible household personal effects
due and payable in the year 1962, and thereafter so long as this article shall
be in effect, and shall not affect the obligation, lien or duty to pay any
taxes, interest or penalties which have accrued or may accrue by virtue of
assessment made or which may be made with respect to taxes levied for any
year prior to the year 1962, nor shall this article affect the legal authority
to assess and collect taxes which may be or have been due and payable prior
to January 1, 1962, together with such interest and penalties as would have
accrued thereon under any provisions of law amended or repealed hereby; nor
shall this article invalidate any assessments or affect any proceedings for
the enforcement thereof pending upon the effective date of this article or
upon January 1, 1962, or during the period between such dates.
A certified copy of this article shall be filed with the Division of
Taxation in the Department of the Treasury of the State of New Jersey, and
with the County Board of Taxation of Monmouth County.