Bill Text: NJ A4035 | 2020-2021 | Regular Session | Introduced
Bill Title: Permits municipalities to adopt, by resolution, grace period concluding no later than September 1, 2020 for third quarter property tax payments due and payable on August 1, 2020.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2020-05-07 - Introduced, Referred to Assembly Community Development and Affairs Committee [A4035 Detail]
Download: New_Jersey-2020-A4035-Introduced.html
Sponsored by:
Assemblyman ERIC HOUGHTALING
District 11 (Monmouth)
SYNOPSIS
Permits municipalities to adopt, by resolution, grace period concluding no later than September 1, 2020 for third quarter property tax payments due and payable on August 1, 2020.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning property taxes due and payable for the third quarter of the 2020 property tax year.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. In response to the anticipated and expected negative economic impact of the COVID-19 worldwide pandemic on the residents of the State of New Jersey, and notwithstanding the provisions of any other law to the contrary, the governing body of a municipality may, by resolution, and with respect to the third quarter installment of property tax payments due on August 1, 2020, institute a grace period concluding no later than September 1, 2020 for the payment of property taxes by property taxpayers. The clerk of a municipality that adopts a resolution implementing the extended grace period permitted pursuant to this section shall forward a copy of the resolution to the Director of the Division of Local Government Services in the Department of Community Affairs no later than the third day next following the governing body's adoption of the resolution.
The governing body of a county shall not charge interest to a municipality pursuant to R.S.54:4-76 if the municipality fails to pay to the county property taxes collected by the municipality on its behalf unless those property taxes remain unpaid on or after September 16, 2020. If the taxes are not paid by September 16, 2020, the municipality shall be charged interest by the county pursuant to R.S.54:4-76 from August 1, 2020 until the date that the property taxes have been paid to the county.
2. This act shall take effect immediately.
STATEMENT
This bill would permit the governing body of a municipality, by resolution, with respect to the third quarter property tax payments due on August 1, 2020, to institute a grace period concluding no later than September 1, 2020 for the payment of property taxes by property taxpayers. The clerk of a municipality that adopts a resolution implementing the extended grace period permitted pursuant to this section is required to forward a copy of the resolution to the Director of the Division of Local Government Services in the Department of Community Affairs no later than the third day next following the governing body's adoption of the resolution.
The governing body of a county is prohibited under the bill from charging interest to a municipality pursuant to R.S.54:4-76 if the municipality fails to pay over to the county property taxes collected by the municipality on its behalf, unless those property taxes remain unpaid on or after September 16, 2020. If the taxes are not paid by September 16, 2020, the municipality would be charged interest by the county pursuant to R.S.54:4-76 from August 1, 2020 until the date that the property taxes have been paid to the county.
