New Fairfield officials are reminding residents about Governor Lamont's Executive Order providing tax relief for property owners and businesses affecting taxes due January 1st. The Board of Selectmen voted to offer both a tax deferment and a low interest rate program, with taxpayers being able to chose.
The tax deferment program delays the last day to pay property taxes, including real estate, personal property and motor vehicle taxes, by 90 days to April 1st. To be eligible, a resident must attest to a 20% reduction in household income resulting from being furloughed without pay, a significant reduction in hours or loss of employment since April 2020. Taxes paid through an Escrow account cannot be deferred.
The Application for this program can be found on the New Fairfield Town website. The application must be received by the Tax Collector on or before February 1st.
The Low Interest Rate program reduces the interest charged on the January 1st tax installment for 90 days. The reduced rate is set at 3% per annum, or 0.25% per month. There is no eligibility requirement for this program; however the reduced rate can only be realized if payment is made.