[Adopted 8-27-1991 by Ord. No. 29-91]
The Tax Collector is hereby authorized and directed
to charge 8% per annum on the first $1,500 of taxes becoming delinquent
after the due date and 18% per annum on any amount of taxes in excess
of $1,500 becoming delinquent after the due date, and if a delinquency
is in excess of $10,000 and remains in arrears after December 31,
an additional penalty of 6% shall be charged against the delinquency,
all such payments to be calculated from the date the tax, assessment
or charges were payable until the date of actual payment. This shall
apply to all existing tax title certificates held by the City of Long
Branch.
As to tax sale certificates, the Tax Collector
is hereby authorized and directed to collect 2% when the taxes, interest
and costs shall exceed the sum of $200. When the taxes, interest and
costs shall exceed the sum of $5,000, such additional sum 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
shall apply to all existing tax sale certificates held by the City
of Long Branch.
No interest shall be charged if payment of any
installment is made within the the calendar day following the date
upon which the same became payable.
Should the date upon which any installment becomes
due fall on a date which is a legal holiday or a date when the office
of the Tax Collector is not open for business for the day, no interest
shall be charged if payment for such installment is made on the first
business day thereafter.
As used in this article, the following terms
shall have the meanings indicated:
The sum of all taxes, assessments and municipal charges due
on a given parcel of property covering any number of quarters or years.
