City Extends Deadline for Third-Quarter Taxes

Newark taxpayers will have an additional 10 weeks to pay third-quarter property taxes, city officials announced Thursday.

The Aug. 26 deadline has been extended to Nov. 12, or about two and a half months.

Mayor Cory A. Booker and the Newark Municipal Council announced today that the City of Newark has extended the due date for the payment of the 2013 third quarter property taxes from Monday, August 26 to Tuesday, November 12; a two-and-a-half-month extension.

“Newark residents are continuing to grapple with challenging economic times, as our nation recovers from the worst financial crisis since the Great Depression,” said Mayor Cory Booker. “My administration has fought to empower our residents and support their dreams of prosperity and economic security. I commend our department of finance on their work in organizing and granting this extension.”

The city decided to allow the extension following a revaluation earlier this year that led to huge increases for some property owners.

The current interest rates on unpaid taxes are 8 percent on the first $1,500 owed and 18 percent on the remaining balance. Failure to pay the 2013 quarter real property taxes by Nov. 12 will result in interest being assessed from the statutory due date of Aug. 1 to the date of payment, the city said.