Title
Dept./ Agency: Finance
Action: (X ) Ratifying (X) Authorizing ( ) Amending
Type of Service: To temporarily reduce Interest rates charged on property taxes, delinquent property taxes, City-owned municipal liens and water and sewer charges
Purpose: Implement a temporary interest reduction program on property taxes, delinquent property taxes, City-owned municipal liens and water and sewer charges
Program Period: March 16, 2020 through June 30, 2020 only
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, the pandemic caused by the novel coronavirus COVID-19 has led to Governor Philip D. Murphy calling a Public Health Emergency, as the virus has resulted in a State-wide call to stay at home to stop the spread of the virus, thereby effecting resident's ability to work and provide for their families; and
WHEREAS, the Administration together with the Municipal Council recognizes that there is a need to assist property owners who are delinquent in their property taxes and to avoid any drastic increase in the 2020 tax rate, by offering a short term "Amnesty/Interest Reduction Program"; and
WHEREAS, given the serious health concerns posed by the COVID-19 Pandemic, the Administration and Municipal Council set forth an "Amnesty/Interest Reduction Program" on Property Taxes, Delinquent Property Taxes, Water and Sewer Charges and City-Owned Municipal Tax Sale Liens for the year(s) 2020 (1st half), 2019 and prior years; and
WHEREAS, this Amnesty/Interest Reduction Program applies to subsequent interest and penalties that have accrued after the City-Owned Municipal Lien/Tax Sale certificate Date Only; and
WHEREAS, this Amnesty/Interest Reduction Program is Exclusive of and DOES NOT INCLUDE:
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