TRENTON, NJ: Due to the COVID-19 pandemic that has brought wide sectors of the economy to a halt, Assemblyman Robert Karabinchak (NJ-18) is introducing a bill to extend property tax deadlines to provide relief to property taxpayers. This extension will help taxpayers weather the economic freeze and prevent a negative impact to their long-term credit profiles. This legislation will extend the property tax deadline to July 15, 2020, matching the federal and state income tax extension.
This crisis has affected and will continue to affect everyone in the nation, but the ones who will bear the brunt of it are small business owners and residential taxpayers who may be living paycheck to paycheck already.
“All New Jerseyans are facing this financial crisis as a result of COVID-19,” said Assemblyman Karabinchak. “People should not have to choose between groceries and medication or paying their property tax because they have been ordered to stay at home and can’t earn money.”
“It is necessary to support our residential families and local business owners that are the foundation of every New Jersey community. Extending the property tax deadline to July 15 will allow these individuals to focus on their immediate needs, ensure that their credit does not diminish, and prevent their small businesses from having to permanently shut their doors.”
This legislation extends residential and commercial property tax deadlines from May 1st to July 15th with no penalties, late fees, or interest. The State shall also accept partial payment from those who can pay. However, the total sum for the first quarter must be paid by the end of 2020.