HomeMy Public PortalAboutr 04:005No. #04-05 Date of Adoption, Ja~.tlar_y__~ _2004
FIXING RATE OF INTEREST TO BE CHARGED
ON DELINQUENT TAXES AND ASSESSMENTS
WHEREAS, N.J.S.A.54:4-67 permits the Governing Body of each municipality to fix the
rate of interest to be charged for non-payment of taxes or assessments subject to any
abatement or discount for the late payment of taxes as provided by law; and
WHEREAS, N.J.S.A 54:4-67 has been amended to permit the fixing of said rate of 8% per
annum on the first $1,500.00 of the delinquency and 18% per annum on 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
Carteret, County of Middlesex, State of New Jersey as follows:
1) The Tax Collector is hereby authorized and directed to charge 8% per annum on the first
$1,500.00 of taxes becoming delinquent after due date and 18% per annum on any amount
of taxes in excess of $1,500.00 becoming delinquent after due date and if a delinquency is
in excess of $10,000.00 and remains in arrears beyond December 31 st, and additional penalty
of 6% shall be charged against this delinquency.
2) Effective January 1, 2004, there will be a ten (10) day grace period of quarterly tax
payments made by cash, check or money order.
3) Any payments not made in accordance with paragraph two (2) of this resolution shall be
charged interest from the due date as set forth in paragraph one (1) of this resolution.
4) This resolution shall be published in its entirety in an official newspaper of the Borough
of Carteret, and a certified copy shall be provided to the Tax Collector, Borough Attorney
and Borough Auditor.
Adopted this 1 st day of January, 2004
and certified as a true copy of the original
on January 2, 2004.
KATHLEEN M. BARNEY, RMC/CMC
Municipal Clerk
RECORD OF COUNCIL VOTE
COUNCILMAN YES NO NV A.B. COUNCILMAN YES NO NV A.B.
KRUM X RIOS X
NAPLES X S ITARZ X
PARISI X SOSNOWSKI X
X - Indicate Vote AB - Absent NV - Not Voting XOR - Indicates Vote to Overrule Veto
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Adopted at a meeting of the Municipal Council
/a ' CLERK ~