New Jersey municipalities may extend the grace period for property tax payers to make their May 1st payments until June 1st under Executive Order No. 130 which was signed by Governor Phil Murphy on April 28.
“Allowing municipalities the option of extending the grace period for May property tax payments is the right thing to do as many New Jerseyans are impacted financially as a result of this crisis,” said Governor Murphy. “Leaders of towns and cities across the state have been trying to find ways to lessen the blow on local residents, and with this action, they are empowered to provide relief to homeowners as we continue to do everything possible to fight this pandemic.”
Under existing law, towns may only allow for a grace period of up to 10 days after the property tax deadline without interest or penalty. In the aftermath of Superstorm Sandy, the law was amended to allow towns that have experienced a flood, hurricane, superstorm, tornado or other natural disaster to extend the grace period for up to a month in certain circumstances. There is currently no mechanism in the law to allow municipalities to extend the grace period as a result of a public health-related emergency.Executive Order No. 130 allows towns to extend the grace period for property tax payments due on May 1st to June 1st, which will enable homeowners to pay their taxes a month after they are due without incurring any interest costs or penalties.