Gopal Bill Permits Grace Period for August Property Taxes

OCEAN TOWNSHIP - Senator Vin Gopal introduced new legislation this week that would allow the governing body of a municipality to institute a 30-day grace period for third-quarter property tax payments due on August 1, 2020.

“When you've been laid off and you're struggling to make ends meet, it's tough enough to put groceries on the table, let alone cover a property tax payment,” said Senator Gopal (D-Long Branch). “If you're a landlord, many of your tenants might not be able to pay rent; if you're a business, you might still be waiting on federal assistance.

“It's going to take time - real time - for families, businesses, and homeowners to recover from this current slump. I understand that many municipalities urgently need these property taxes to cover the costs of education, law enforcement, fire safety, garbage collection, and other vital services. But when a town can afford to do so, another thirty days of property tax relief can put many people on a far more stable path to recovery."

Under the bill, counties would be prohibited from charging interest to municipalities that fail to pay counties the property taxes they owe, unless those property taxes remain unpaid on or after September 16, 2020.

 


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