Hoboken
NJ

CC - Resolution

Resolution Authorizing Estimated Tax Billing Per N.J.S.A. 54:4-66.3

Information

Department:FinanceSponsors:
Category:Tax

Body

                                                                                                                                                                                     

              WHEREAS, the ongoing COVID-19 pandemic has disrupted municipal, county, and state governments, the 2020 budget process and property tax billing process may not be as timely and certain as they have been in past years; and,

 

WHEREAS, the City of Hoboken (“the City”) has not introduced its 2020 Municipal Budget and the New Jersey Division of Local Government Services may be delayed in reviewing the City’s 2020 Municipal Budget prior to adoption due to the current fiscal uncertainties, and the Hudson County Board of Taxation may be delayed in certifying the City’s 2020 tax rate once the City’s 2020 budget is adopted; and,

 

WHEREAS, without a certified 2020 tax rate, City of Hoboken Tax Collector will be unable to prepare and mail property tax bills in accordance with statutory deadlines for the third quarter installment of 2020 taxes; and,

 

WHEREAS, because of these above-mentioned uncertainties, the New Jersey Division of Local Government Services issued Local Finance Notice LFN-2020-07 which strongly recommends that municipalities issue estimated property tax bills for the third quarter installment of 2020 taxes, and,

 

WHEREAS, the Tax Collector, in consultation with the Chief Financial Officer and Finance Director, computed an estimated tax levy in accordance with NJSA 54:4-66.3, and each signed a certification showing the tax rate and tax levy for 2019 and the range of permitted estimated tax rates and levies for 2020; and,

 

              WHEREAS, the 2020 estimated tax rate and estimated tax levy are within the permitted range, the Director of the Division of Local Government Services does not need to approve the estimated tax levy;

 

              WHEREAS, the City seeks to authorize the Tax Collector, if she deems necessary, to prepare and issue estimated tax bills for the third quarter installment of 2020 taxes.

 

              NOW, THEREFORE, BE IT RESOLVED, by the City Council, City of Hoboken, County of Hudson, State of New Jersey as follows:

 

1.                   The Tax Collector is hereby authorized and, if she deems necessary, directed to prepare and issue estimated tax bills for the third quarter installment of 2020 taxes. 

 

2.                   The estimated tax levy for 2020 is hereby set at $196,600,000.  

 

 

BE IT FURTHER RESOLVED, that Certified Copies of this Resolution be provided by the City Clerk to the following persons:

 

-          Finance Director

-          Chief Financial Officer

-          Tax Collector

                                         

 

Meeting History

May 20, 2020 7:00 PM  City Council Regular Meeting
draft Draft
RESULT:CARRIEDNext: 6/3/2020 7:00 PM