DELINQUENT INTEREST CHARGED
By law, the Borough of Milltown has adopted by Resolution, instituting an interest rate of 8% per annum on the first $1,500.00 of delinquency and 18% per annum on any amount in excess of $1,500.00. The Tax Collector is also authorized to charge a taxpayer having a tax, water, sewer and electric delinquency in excess of $10,000.00, at the end of the calendar year, a Year-End-Penalty of 6%. (N.J.S.A. 54:4-67)