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Third Quarter Estimated Tax Bills Explained

Posted on July 17, 2020


Franklin Township Seal

THE THIRD QUARTER ESTIMATE INSTALLMENT GRACE PERIOD WILL BE UNTIL TO AUGUST 12TH, 2020 WITH NO PENALTY OR INTEREST CHARGED.

 

PAYMENTS RECEIVED AFTER THAT DATE WILL BE CHARGED INTEREST BACK TO AUGUST 1, 2020.

 

***If you currently have a mortgage and have your taxes paid via escrow, then the estimate tax bill you received is an “advice copy” for your records. The taxes will be paid as usual by your mortgage servicing company.***

 

Franklin Township residents are receiving estimated tax bills in the mail.  This estimate was necessary for the third quarter, due to the extension given to municipalities in the County, to submit their budgets, which is delaying the County finalizing the tax rates for 2020.  In order to generate an estimated tax bill the Township must determine a tax rate based upon the available data.  The state statue allows for estimated bills (up to 105% of the previous year-2019).  Once the tax rate is finalized, property taxes will be adjusted accordingly and a final bill will be mailed out with payment stubs for Q4 2020 as well as Q1 and Q2 for 2021.  Advice copy bills were also sent out to taxpayers who have a mortgage company on file paying their taxes. Thus, if there is an existing mortgage and taxes are held in escrow, then the taxes will be paid via the mortgage servicing company as usual.

 

PLEASE NOTE PAYMENTS CAN BE DROPPED OFF AT THE FRANKLIN TOWNSHIP MUNICIPAL ANY TIME IN OUR SECURE DROP OFF BOX LOCATED IN FRONT OF THE BUILDING. ONLINE PAYMENT OPTIONS ARE AVAILABLE VIA E-CHECK AND CREDIT CARD ON OUR WEBSITE.

 

BLOCK AND LOT WITH ANY QUALIFIERS MUST BE WRITTEN ON THE CHECK. MISAPPLIED PAYMENTS DUE TO AMBIGUITY WILL RESULT IN PENALTIES AND INTEREST. IF MULTIPLE PROPERTIES ARE BEING PAID, THE AMOUNT TO BE APPLIED MUST BE CLEARLY WRITTEN AND EXPLAINED FOR EACH BLOCK AND LOT. NJ STATUTORY LAW DOES NOT PERMIT POST DATED CHECKS. POST DATED CHECKS WILL BE RETURNED.

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