Municipalities would be permitted to establish a 30-day grace period for 3rd-quarter property tax payments under coronavirus relief legislation introduced by Senate Majority Conference Leader Vin Gopal (D-Long Branch).
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 Gopal. “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.”
Gopal’s plan would prohibit counties from charging interest to municipalities for their share of the 3rd quarter payments as long as they are paid by September 16, 2020.
“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,” Gopal explained. “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.”