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No.
05-5
Date of Adoption TRAlIRr)/ ? , 2005
FIXING RATE OF INTEREST TO BE CHARGED
ON DELINQUENT TAXES AND ASSESSMENTS
WHEREAS, N.J.S.A.54:4-67 pemlits the Goveming 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, NJ.S.A 54:4-67 has been amended to pemlit 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 $1 0,000.00 on properties that fai1 to pay the delinquency prior to
the end of the ca1endar year.
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Counci1 of the Borough
ofC31ieret, County ofMidd1esex, 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 31st,
and additional penalty of 6% shall be charged against this delinquency.
2) Effective January 1,2005, there will be a ten (10) day grace period of quarter1y 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 (I) of this resolution.
4) This resolution shall be published in its entirety in an official newspaper of the
Borough of Carteret, and a celiified copy shall be provided to the Tax Collector, Borough
Attomey and Borough Auditor.
Adopted this 2nd day of January, 2005
and certified as a tme copy of the original
on January 3,2005.
KATHLEEN M. BARNEY, RMC/CMC
Municipal Clerk
COUNCILMAN YES
BELLINO X
lJIAZ X
KR X
RECORD OF COUNCIL VOTE
NO NV A.B. COUNCILMAN
YES NO NV A.B.
Y N Y XOR· Indicates Vote to Overruk Veto
X . Indicate Vote AS· Absent N - at oting
Adopted al a meeting of the Municipal Council
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