203-10

203-10 August 17, 2010 RESOLUTION WHEREAS, pursuant to N.J.S.A. 54:4-67, the Township Council of the Township of West Orange, on June 9, 2009 adopted Resolution No. 144-09 fixing the rate of interest to be charged for non-payment of Tax or Assessments; and WHEREAS, the aforesaid Resolution No. 107-08 set the rate of interest and penalties to be charged taxpayers who are delinquent in the payment of taxes and assessments due and owing the Township of West Orange; and WHEREAS, the Township’s auditors and the Township Attorney have recommended that Resolution 107-08 be re-adopted for calendar year 2010 NOW, THERFORE, BE IT RESOLVED, BY THE MUNICIPAL COUNCIL OF THE TOWNSHIP OF WEST ORANGE that the rate of interest and/or penalty to be charged for the non- payment of taxes and/or assessments when they become delinquent shall be as follows; a. No interest shall be charged if payment of any installment is made within the tenth calendar day following the date upon which the same become payable. If the tenth day falls on a weekend or Municipally Observed Holiday, the grace period shall be extended until the next working day. b. Upon the expiration of the tenth (10th) day as aforesaid, the rate of interest shall be Eight Percent (8%) per annum of the first $l,500.00 of said delinquency and Eighteen Percent (18%) per annum on any amount in the excess of $l,500.00, which is to be calculated from the date the tax was payable through and inclusive of the date of actual payment. c. An additional Six percent (6%) penalty for delinquencies in excess of $10,000.00 remain- ing unpaid at the end of the calendar year. BE IT FURTHER RESOLVED, that the charges on account of delinquent properties as set forth herein remain in effect from year to year until such time as the governing body adopts a new resolution setting forth new or different rates. Karen J. Carnevale Sal M. Anderton Municipal Clerk Council President Adopted: August 17, 2010