Pursuant to N.J.S.A. 54:4-67, 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 assessments are due to the date of
payment.
[Added 3-8-2022 by Ord. No. 22-06]
No interest shall be charged if payment of any installment is
made within the 10th calendar day following the date upon which the
same became payable.
Pursuant to N.J.S.A. 54:4-67, an additional sum 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.
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 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.