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Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 2820
Experience:  18+ years of experience in tax preparation; 25+ years of experience as a real estate/corporate paralegal.
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I have been served property taxes, is there any way I can

Customer Question

I have been served for late property taxes, is there any way I can lessen the interest amount due?
Submitted: 5 months ago.
Category: Tax
Expert:  Barbara replied 5 months ago.

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

As you probably know, interest on delinquent taxes is charged from the due date at a rate of 8% per annum on the first $1,500.00 of the delinquency and 18% per annum on the amount in excess of $1,500.00. Interest at a rate of 18% will continue to be charged on subsequent delinquent tax payments until the account is brought current.

The provisions set forth above are all in accordance with the Law of the State of New Jersey.

New Jersey statutes do not permit the waiver or cancellation on any interest charges.

I sincerely ***** ***** this is not the answer you were hoping for.

Please let me know if I can assist you further.

Thank you and best regards,

Barb

Expert:  Barbara replied 5 months ago.

Another expert in the tax category who routinely scrutinizes answers of other experts has advised the following:

18:2-2.7 Abatement of penalty and interest ... An abatement will be granted if the taxpayer can show reasonable cause for failure to file any return or pay any tax when due and makes full payment of the taxes due. All of the facts alleged as a basis for reasonable cause for failure to timely file a return or for failure to timely pay or pay over any tax due must be affirmatively shown in a written statement, containing a declaration that it is made under penalties of perjury, made by the taxpayer or other person against whom the penalty or penalties have been assessed or are assessable. Where the taxpayer or other person is unable to provide such statement or does not have a personal knowledge of such facts, a showing of reasonable cause may be made on behalf of the taxpayer or other person by an individual with a personal knowledge of such facts. In determining whether reasonable cause exists, in addition to an evaluation of such facts, the taxpayer's previous compliance record with respect to all of the taxes imposed may be taken into account.

Good news for you!

Best regards,

Barb

Expert:  Barbara replied 5 months ago.

Just following up with you to see if you have any other questions or concerns. If so, please let me know, and I will assist you further.

Best regards,

Barb

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