Interest rate on overdue taxes set at 0%
During their special meeting on Tuesday, April 14, the Borough commissioners set the interest rate at 0% for property taxes paid after the due date of May 1, 2020 but on or before May 31, 2020.
Their action was in recognition of the financial difficulties some residents are experiencing, because of the COVID-19 pandemic.
The due date for second quarter tax payments is May 1. The Borough grants a ten-day grace period and does not charge interest on payments received during the grace period. The commissioners’ action effectively increases the grace period by 30 days – but only on property taxes for the current period. The 0% rate does not apply to any back taxes.
Property taxes that are not paid by May 31, 2020 will be subject to interest at the rate of 8% per annum up to $1,500 and 18% per annum over $1,500, calculated from the due date (May 1) until the date the payment is actually received.
Although the Borough Hall is closed to the general public, payments can still be made “in person” by placing them in the black mailbox in front of the building. Place the tax bill and check in an envelope marked “Tax Office.” The box is emptied daily.
Paying by mail? The address is 242 Kings Highway E, Haddonfield NJ 08033.