Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Tax Sale
Date: On or before December 31, 2020
Place: 920 Broad Street, Newark, New Jersey 07102
List of Property:
(Address/Block/Lot/Ward)
Various
Additional Information:
Accelerated/Electronic Tax Sale for the Calendar Year of 2020.
Body
WHEREAS, it is projected that as of November 11, 2020, approximately three thousand (3,000) properties located within the City of Newark (the "City") will have unpaid real estate taxes and other municipal charges; and
WHEREAS, N.J.S.A. 54:5-19 requires that any unpaid taxes and/or other municipal charges that remain in arrears on the eleventh (11th) day of the eleventh (11th) month be sold at a tax sale, after the passage of an authorizing resolution by the Governing Body; and
WHEREAS, the annual accelerated tax sale for the City of Newark is scheduled to be held on or before December 31, 2020; and
WHEREAS, the tax sale process is lengthy, costly and places a large financial burden on the general tax base; and
WHEREAS, it is the desire of the City to hold taxpayers accountable for the fees associated with said sale, who cause the tax sale procedure to be held; and
WHEREAS, N.J.S.A. 54:5-26 provides for direct mailing of the tax sale notices in-lieu of up to two (2) legal advertisements, the costs of which shall be added to the cost of the sale, not to exceed Twenty-Five Dollars and Zero Cents ($25.00), for each notice for a particular property; and
WHEREAS, it is the recommendation of the Municipal Tax Collector that Twenty-Five Dollars and Zero Cents ($25.00) is an appropriate direct mail cost for the 2019 tax sale; and
WHEREAS, N.J.S.A. 54:5-38 provides for fees in connection with holding a tax sale, of two percent (2%) of the total of municipal charges, including all interest and penalties, to the date of sale. The two percent (2%...
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