The rate of interest to be collected by the proper Borough official
on all delinquent taxes and assessments shall be the same as herewith
declared and established to be at the rate of 8% per annum up to $1,500
and 18% over $1,500, to be computed from the date said taxes and/or
assessment are due to the date of payment.
Pursuant to N.J.S.A. 54:4-67, an additional penalty of 6% of
the amount of the tax delinquency in excess of $10,000 shall be charged
by the Tax Collector when computing the total amount due on the delinquent
property.
Pursuant to N.J.S.A. 54:5-61, a penalty of 2% shall be charged
on a tax sale certificate on the amount due over $200 up to $5,000.
Pursuant to N.J.S.A. 54:5-61, the amount to be charged on account
of a tax sale certificate when the taxes, interest and cost shall
exceed the sum of $5,000 shall be equal to 4% of such amount paid,
and when that sum exceeds $10,000, such additional sum shall be equal
to 6% of such amount paid. This additional charge shall apply to all
existing certificates held by the Borough of Clayton effective June
13, 1991, pursuant to a resolution adopted on said date, and as to
any and all subsequently acquired tax sale certificates.
As used in this article, the following terms shall have the
meanings indicated:
TAX DELINQUENCY
The sum of all taxes and municipal charges due on a given
parcel of property covering any number of quarters or years.
This article shall be implemented and administered in accordance
with N.J.S.A. 54:4-1 et seq. and 54:5-1 et seq., and any amendments
or supplements thereto, and in accordance with the rules and regulations
promulgated thereunder by the Department of the Treasury, Director
of the Division of Taxation of the State of New Jersey.