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FINANCE AND TAX DEPARTMENTS

The Finance Department and Tax Collection offices are open Monday through Friday from 8:30am to 4:00pm, excluding holidays.

The Finance Department is responsible for all transactions relating to the revenues and disbursements of the Borough. The department keeps a full account of all cash receipts and disbursements of the Borough, has custody of all investments and invested funds of the Borough in a fiduciary capacity keeps all moneys not required for current operations safely invested or deposited in interest bearing accounts, handles the payroll for municipal employees, processes requisitions and purchase orders for payment and collects current and delinquent taxes. The Chief Financial Officer oversees the financial operations of the Borough.

Kunjesh Trivedi Treasurer, CFO and Tax Collector

201-784-2960

ktrivedi@norwoodboro.org

Kathleen Shalhoub Accounts Payable

201-767-7200 ext 14

kshalhoub@norwoodboro.org

TAX COLLECTION

Tax Bills have been sent out for the third and fourth Quarter 2011 taxes and the first and second quarter of 2012. The deadline for payment of your third quarter taxes is August 31, 2011. The total tax rate is $2.13 per $100 of assessed valuation. This includes the schools, county and municipal levies. The breakdown of your taxes is as follows: $6,880,495 for local or 27% of your tax bill. $15,765,005 for the schools or 62% of your taxes and $2,950,011 to the County for 11% of your total bill. If you have any questions regarding you tax bill, please call the Tax Collector, Kunjesh Trivedi at 201-784-2960 The Borough Tax Office no-longer accepts cash, please bring a check or money order. Thank you for your cooperation in this matter. For your convenience, there is a secure drop box in between the front doors of the Borough Hall. The 2010 Homestead Benefit and Senior Freeze application filing deadlines have been extended until October 31, 2011.

The Tax Collector is charged with the responsibility for receiving and collecting all taxes and assessments both current and delinquent. The Office of the Tax Collector bills over 2,000 taxpayers and collects taxes quarterly.

Taxes are due: February 1, May 1, August 1, and November 1. Please note that the Norwood Tax Office will no longer accept cash payments for taxes. You must present a check or money order.

A ten-day grace period to the 10^th of the month is allowed by resolution of the Mayor and Council after which interest is charged from the first day of the month in which payments are due.

Taxpayers are urged to read all of the information contained on the front and the back of their tax bills. Please note that according to New Jersey State Law, failure to receive a tax bill does not exempt a property owner from payment of taxes. The tax bills are mailed annually, usually during the first 2 weeks of July. If you do not receive your tax bill by July 31^st, please contact the Tax Office.

If you are mailing a check to pay your taxes, please be certain that you are paying the amount for the correct quarter. For payment due May 1, 2011, stub #2, second quarter 2011 taxes, is located at the bottom right-hand corner of the bill. If you would like a receipt, please send the entire tax bill with your check. Your bill will be receipted and mailed back to you. If you do not desire a receipt, then mail the property stub and check. Please make checks payable to the Borough of Norwood.

It is important to note that the municipal taxes are only a portion of a Norwood taxpayer’s obligation. Two other separate government entities, Bergen County Government and the Norwood Local Public School District, develop and adopt their won budgets funded by property taxes. However, New Jersey’s Fiscal Laws require the Municipal Government of Norwood to serve as a billing and collection agency for all three separate entities.

Forms you may download:

If you are a senior or disabled: http://www.state.nj.treasury/taxation/pdf/other_forms/lpt/ptd.pdf

If you are a Veteran or Widow of a Veteran: http://www.state.nj.treasury/taxation/pdf/other_forms/lpt/vss.pdf

You may also apply to the State of New Jersey to have your taxes frozen from one year to another: http://www.state.nj.treasury/taxation/propfrez.shtml

Resolution Fixing the Rate of Interest and Year- End Penalty

WHEREAS, R.S. 54:4-67 permits the governing body of each municipality to fix the rate of interest to be charged for nonpayment of taxes or assessments subject to any abatement or discount for the late payment of taxes or assessments as provided by law.

NOW, THEREFORE, BE IT RESOLVED, by the Mayor and Council of the Borough of Norwood, County of Bergen, State of New Jersey that property taxes shall be due and payable quarterly on February 1^st, May 1^st, August 1^st and November 1^st of each year with a ten-day grace period, after which dates, if unpaid shall become delinquent, with interest charged as set forth below and reverting back to the due date on any quarterly installment of taxes.

NOW, THEREFORE, BE IT RESOLVED, by the Mayor and Council of the Borough of Norwood, County of Bergen, State of New Jersey, hereby fix the rate of interest at 8% per annum of the first $1,500.00 of delinquency and 18% per annum on any amount in excess of $1,500.00.

BE IT FURTHER RESOLVED, that a 6% year end penalty be assessed on the last day of the fiscal year on delinquent accounts when in excess of $10,000.

BE IT FINALLY RESOLVED, that a certified copy of this resolution be forwarded to the Tax Collector and Borough Auditor.

The 2011 TAX SALE for 2011 property taxes has yet to be scheduled.