The grace period has been extended due to the Coronavirus.
On April 28, Governor Murphy signed Executive Order No. 130, which allows municipalities to extend the grace period for property tax payments due on May 1 to June 1. Such an extension would provide much-needed relief to homeowners struggling financially as a result of the COVID-19 pandemic.
The South Orange Board of Trustees have therefore authorized the tax collector to extend this grace period for 2nd quarter taxes. The grace period will end on June 1 with no additional grace periods beyond this date. Any unpaid balance will accrue interest from May 1.
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 1 to June 1, which will enable homeowners to pay their taxes a month after they are due without incurring any interest costs or penalties.
Copy of Executive Order No. 130