Title
Dept/Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Reducing Interest rates charged on delinquent property taxes.
Purpose: Implement a temporary waiving of interest on delinquent taxes
Program Period: 12/24/12 through 1/31/13 only.
Additional Information: This legislation has been placed directly on the agenda as instructed by the sponsor. Ramos
Body
WHEREAS, in light of the devastation and damage caused by "Hurricane Sandy", and in the spirit of the Holiday Season, the Administration together with the Municipal Council recognizes the need to provide assistance to property owners in the City of Newark that have endured property damage and other financial hardships by offering a short term "Amnesty Program" and,
WHEREAS, the Tax Collection rate has a direct impact on the 2013 Municipal Budget, and it is necessary to increase all municipal revenue collections and,
WHEREAS, it is the desire and hope of the Mayor and Municipal Council that this short term amnesty program will enable those affected to pay the outstanding taxes, which will result in an increase in the overall collection rate while conferring a benefit on all citizens and taxpayers of the City of Newark and,
WHEREAS, this Amnesty Program will authorize the Tax Collector, in her statutory capacity, to waive interest and penalties on delinquent property taxes commencing:
December 24, 2012 thru January 31, 2013
NOW, THEREFORE,BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY THAT:
1. The Tax Collector be and is hereby authorized to waive interest and penalties on delinquent taxes provided the payment is received from December 24, 2012 thru January 31, 2013, provided that said properties were not, and are not involved in litigation of said charges with the City of Newark, or have previously filed for protection of the U.S. Bankruptcy Court which prohibits the City of Newark from collection this debt, inclusive of any claims being dismissed or discharged.
2. After the amnesty period expires, interest and penalties will be assessed without regard to this amnesty offer, and will be assessed from the original statutory due date to the date of payment.
3. Payments shall be for the total outstanding balance (all years & quarters) to receive benefit of this amnesty. All payments will be by certified funds only, no exceptions will be allowed.
4. This Amnesty is exclusive to any/all properties acquired, transferred, purchased or negotiated through any Federal, Civil, Municipal, Superior or State Court.
5. This Amnesty is exclusive to any/all pending, settled or stipulation of settlement State and County Board Judgments
6. This amnesty program is exclusive to and does not pertain to any interest, penalties or fees due to Third Party Lienholders/Outside Buyers, purchased or assigned.
7. The Tax Collector is hereby authorized to do any and all things necessary to carry out the task of this Amnesty Program.
8. This resolution shall take effect December 24, 2012, and will not be amended or extended.
S T A T E M E N T
This resolution authorizes amnesty on interest and penalties due on delinquent property taxes, provided payment is received from December 24, 2012 thru January 31, 2013.
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