The Kearny Finance Department has applied Homestead Benefit Property Tax Credits to the May 2021 tax quarter for eligible property owners.
Adjusted tax bills have been mailed and there are 1,520 property owners in Kearny who will receive the credits, totaling $803,283.47.
Unlike regular tax bills, this is a small, single sheet which shows the adjustment.
Second quarter taxes are due on May 1, 2021.
There is a 10-day grace period that ends on Monday, May 10. By state law, payments received after the grace period will be charged interest back to the statutory due date May 1.
At the same time, Kearny Mayor Alberto G. Santos shared the results of the Town of Kearny’s annual financial statement for 2020. Notwithstanding the unprecedented challenges of the pandemic, the town’s total expenses came in $2 million below budgeted appropriations and revenues came in higher than the budgeted amount by over $10 million due to a growing tax base, a very strong collection rate and new revenues from redevelopments on Passaic Avenue and in South Kearny.
The net impact is a cash surplus of $12 million at year-end 2020, which is equal to 15% of the total annual revenue.
“This is the strongest year-end surplus the town has generated in over two decades,” Santos said. “The surplus will provide us a substantial cushion against any unexpected budgetary pressures in 2021 and beyond. We will continue to emphasize strong budget management and sound financial policies so that the town’s robust financial health is sustained. This will enable us to maintain stable property tax rates, and to build upon the past three consecutive years of reductions in the municipal tax rate.”
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Kevin A. Canessa Jr. is the editor of and broadcaster at The Observer, a place where he has served on and off since 2006. He is responsible for the editorial content of the newspaper and website, the production of the e-Newspaper, writing several stories per week (including the weekly editorial), conducting live broadcasts on Facebook Live, including a weekly recap of the news — and much more behind the scenes. Between 2006 and 2008, he introduced the newspaper to its first-ever blog — which included podcasts, audio and video. Originally from Jersey City, Kevin lived in Kearny until 2004, lived in Port St. Lucie. Florida, for four years until February 2016 and in March of that year, he moved back to West Hudson to return to The Observer full time. Click Here to send Kevin an email.