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  • NJ A2153
  • Reduces maximum rate of interest to be charged for delinquent taxes from 18% to 12%.
Introduced
(1/27/2016)
In Committee
(6/15/2017)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill provides that the rate of interest that a governing body may fix to be charged for the nonpayment of taxes, assessments, or other municipal liens or charges cannot exceed 8% per annum on the first $1,500.00 of the delinquency and 12% per annum on any amount in excess of $1,500.00, to be calculated from the date the tax was payable until the date that actual payment to the tax collector was made. Previously, the rate of interest could not exceed 18% per annum on any amount in excess of $1,500.00. The purpose of this legislation is to respond to current economic conditions.
2nd Reading in the Assembly
Reported out of Assembly Committee, 2nd Reading  (on 6/15/2017)
 
 
Date Chamber Action Description
6/15/2017 A Reported out of Assembly Committee, 2nd Reading
6/15/2017 Assembly State and Local Government Hearing (19:00 6/15/2017 )
1/27/2016 A Introduced, Referred to Assembly State and Local Government Committee
Date Motion Yea Nay Other
Detail 6/15/2017 Assembly State and Local Government Committee: Reported Favorably 4 1 0