Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: To implement a short term Amnesty Program to reduce interest rates charged on delinquent property taxes and water and sewer charges.
Purpose: Implement Amnesty Program on delinquent property taxes and water and sewer charges.
Program Period: August 10, 2016 through September 12, 2016
Additional Information:
Current Rate Proposed Rate
8% on first $1,500.00 delinquency 0% on first $1,500.00 delinquency
18% on remaining balance 0% on remaining balance
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WHEREAS, in light of the City's current financial situation, the Administration together with the Municipal Council recognizes that there is a need to immediately increase the percentage of collections for property taxes to avoid any drastic increase in the 2016 tax rate, by offering a short term "Amnesty Program;" and
WHEREAS, increasing the collection rate has a direct impact on the 2016 Municipal Budget, it is necessary to increase all Municipal Revenue Collections; and
WHEREAS, it is the desire of the Administration and the Municipal Council to implement this short term program which will enable those affected to pay the delinquent taxes, resulting in an increase in the overall collection rate, while conferring a benefit on all citizens and taxpayers of the City of Newark; and
WHEREAS, the Amnesty Program will authorize the Tax Collector and the Chief Financial Officer, in their Statutory Capacity, to waive accrued interest and penalties on delinquent property taxes and water and sewer charges for the year 2015 or prior years and Municipal Tax Liens ONLY for the period August 10, 2016 through September 12, 2016 Only; and
WHEREAS, the Amnesty Program is Exclusive to and DOES NOT INCLUDE:
? Third Party/Outside Lienholder purchased or assigned
? Accounts in Bankruptcy or any other l...
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