FRANKLIN TOWNSHIP
RESOLUTION #2026-07
RESOLUTION TO FIX THE INTEREST RATE CHARGED FOR NON-PAYMENT OF TAXES OR ASSESSMENTS SUBJECT TO ANY ABATEMENT OR DISCOUNT FOR THE LATE PAYMENT OF TAXES
WHEREAS, N.J.S.A. 54:4-67 permits the governing body of each municipality to fix the rate of interest to be charged for non-payment of taxes or assessments subject to any abatement or discount for the late payment of taxes as provided by law; and
WHEREAS, N.J.S.A. 54:4-67 has been amended to permit the fixing of said rate of 8% per annum on the first $1,500.00 of the delinquency and 18% per annum on any amount in excess of $1,500.00 and allows an additional penalty of 6% to be collected against a delinquency in excess of $10,000.00 on properties that fail to pay the delinquency prior to the end of the calendar year.
NOW, THEREFORE, BE IT RESOLVED, by the Township Committee of the Township of Franklin, County of Hunterdon and State of New Jersey as follows:
- The Tax Collector is hereby authorized and directed to charge 8% per annum on the first $1,500.00 of taxes becoming delinquent after due date and 18% per annum on any amount of taxes in excess of $1,500.00 becoming delinquent after due date, and if a delinquency is in excess of $10,000.00 and remains in arrears beyond December 31 an additional 6% shall be charged against the delinquency.
- Effective January 1, 2026, there shall be a ten (10) day grace period of quarterly tax payments made by cash, check or money order.
- Any payments not made in accordance with paragraph two of this resolution shall be charged interest from the due date as set forth in paragraph one of this resolution.
- This resolution shall be published in its entirety once in an official newspaper of the Township of Franklin.
- The Township Clerk shall provide a certified copy of this resolution to the Tax Collector, Township Attorney and Township Auditor for the Township of Franklin.
I, Christine J. Burke, Municipal Clerk of the Township of Franklin, County of Hunterdon, do hereby certify this to be a true copy of a resolution adopted by the Township Committee at a meeting held on January 06, 2026.
Christine Burke, RMC
Municipal Clerk