Resolution 2023-11

Fixing the rate of interest to be changed on delinquent taxes, assessments, and sewer maintenance fees.

Whereas, N.J.S.A. 54:4-67 permit the governing body of each municipality to fix the rate of interest to be charged for nonpayment of taxes, assessments, or sewer maintenance fees subject to any abatement or discount for the late payment o taxes as provided by law; and

Whereas, N.J.S.A. 54:4-67 has been amended to permit the fixing of said rate 8% per annum on the first $1,500.00 of the delinquency and 18% per annum of any amount in excess of $1,500.00 and allows an additional penalty of 6% to be collected against a delinquency in excess of $10,000.00 on properties that fail to pay the delinquency prior to the end of the calendar year. 

Now Therefore Be It Resolved, by the Mayor and Council of the Borough of Neptune City as follows:

1. The Tax Collector is hereby authorized and directed to charge 8% annum on the first $1,500.00 of charges becoming delinquent after due date and 18% per annum of any amount in excess of $1,500.00 and allows for delinquencies in excess of $10,000.00 in arrears beyond December 31st an additional penalty of 6% shall be charged against delinquency. 

2. Effective January 1, 2023 there will be a ten (10) day grace period of quarterly tax, assessment, or sewer maintenance payments made in cash, check or money order.

3. Any payment not made in accordance with paragraphs two of this resolution shall be charged interest from the due date as set forth in paragraph one of this resolution.

4. This resolution shall be published in its entirety in an official newspaper of the Borough of Neptune City.