230-25 Resolution Extending Grace Period for Tax Collection.pdf

230-25 October 16, 2025 RESOLUTION AUTHORIZING THE COLLECTOR OF TAXES TO EXTEND THE GRACE PERIOD FOR THE 2025 FOURTH QUARTER TAXES WHEREAS, 2025 Municipal budget is not scheduled to be adopted until October 16, 2025 therefore the certified 2025 tax rate has been delayed. WHEREAS, once the Municipal budget has been adopted, it must be sent to the State of New Jersey and County of Essex to certify the tax rate. At that time the 2025 Final/2026 Preliminary tax bills will be calculated. Therefore per N.J.S.A. 54:4-67 the grace period for the November 1st tax payments must be extended to the twenty fifth calendar day after the date the tax bills are mailed; interest for late payments is to be charged back to the due date of November 1st. STATUTE: “The fourth installment of taxes shall not be subject to interest until the later of November 1, the additional interest free period authorized pursuant to R.S.54:4-67, or the twenty-fifth calendar day after the date that the tax bill or reconciled tax bill for the fourth installment was mailed or otherwise delivered. Any payment received after the later of November 1, the additional interest-free period authorized pursuant to R.S.54:4-67, or the twenty-fifth calendar day after the date that the tax bill or estimated tax bill for the fourth installment was mailed or otherwise delivered may be charged interest back to November 1. The reconciled tax bill shall contain a notice specifying the date on which interest may begin to accrue.” NOW, THEREFORE, BE IT RESOLVED by the Township Council of the Township of West Orange, that the Tax Collector in accordance with NJ State Statute provided above, will extend the grace period 25 days from the date of mailing. Karen J. Carnevale, R.M.C. Joe Krakoviak Municipal Clerk Council President Adopted: October 16, 2025