Bill > H3238

This bill proposes modifications to Massachusetts General Laws regarding late payments and interest rates for real estate and personal property taxes. Specifically, the bill allows local legislative bodies (such as city councils or town meetings) to determine interest rates for late tax payments, rather than having a fixed 14% rate. Currently, the law mandates a 14% interest rate, but this bill would give local governments more flexibility to set rates up to that maximum. Additionally, the bill empowers tax collectors and treasurers to waive interest fees for late payments and establish payment plans for taxpayers with outstanding balances. This change could provide more administrative discretion and potentially offer more lenient options for taxpayers struggling to pay their real estate or personal property taxes on time, potentially reducing financial strain on individuals while still maintaining a mechanism to encourage timely tax payments.

Budget and Finance

https://malegislature.gov/Bills/194/H3238