title
Resolution of the Mayor and Council of Princeton Authorizing Extension of Grace Period for Payment of Third Quarter, 2025 Property Taxes
end
body
WHEREAS, tax bills for Princeton have been delayed due to the delay of certified rates from the county; and
WHEREAS, Title 54 provided for an interest penalty for the failure to pay third quarter taxes by August 1; and
WHEREAS, it would be unfair to assess penalties against taxpayers whose failure to pay taxes is due solely to a delay for which they are not responsible;
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of Princeton that the rate of interest to be charged for the late payment of third quarter 2025 taxes for the period August 1 through August 19, 2025 only shall be 0.0%; except that said rate shall not apply to those persons and entities who are delinquent on payment of the first or second quarter 2025 and prior years’ property taxes; and,
BE IT FURTHER RESOLVED that after August 19, 2025, the rate of interest to be charged for the payment of third quarter taxes will be the current authorized rate of (8% of the first $1,500.00 of delinquency and 18% on the excess over $1,500.00) from the due date of August 1, 2025 until the date the actual payment is received in the Tax Office; and
BE IT FURTHER RESOLVED that the taxpayers of Princeton be notified of this extension by placement of a notice on their tax bills; and
BE IT FURTHER RESOLVED that copies of this resolution be forwarded to the following: Tammie Tisdale, Tax Collector; David Gannon, Auditor; and Trishka Waterbury Cecil, Princeton Attorney.