Interest on Delinquent Taxes Cut Temporarily

The city has announced it’s temporarily slashing the rate of interest owed on delinquent property taxes by half. The cut remains in place through Nov. 30.
 
The interest on the first $1,500 of a delinquency will be cut from 8 percent to 4 percent. The interest on the remaining balance will be cut from 18 percent to 9 percent. The interest reduction does not change the amount of the balance of the delinquent tax that must be paid.
 
“We are reducing the interest that must be paid on delinquent property taxes in an effort to help our property tax owners who are delinquent in their taxes pay the money they owe to the City of Newark,” Mayor Cory Booker said in a statement.

The interest cut is in effect until Friday, November 30. After that, the interest will be assessed without regard to the temporary reduction. Payments for delinquent taxes will be accepted by money order, certified or bank check, or credit or debit cards only. No personal, business, or attorney trust checks will be accepted. The City of Newark Tax Collector’s Office is located in City Hall, Room 104, at 920 Broad St. Its cashiers’ hours are from 9 a.m. to 3:30 p.m., Monday through Friday.
 
The interest rate reduction does not include third party or outside lien holders, accounts in bankruptcy or any other litigation, tax appeals or pending settlements.
 
For more information, please contact the Office of the Tax Collector at (973) 733-3791, (973) 733-3962, or (973) 733-3960.