Bill > S2453

This bill allows cities and towns to waive interest on overdue property taxes for commercial properties, in addition to residential properties, under specific conditions. To qualify for this waiver, the commercial property must have been owned and used by the taxpayer for the five years leading up to the overdue tax payment, the taxpayer must have a history of timely tax payments for those preceding five years, and the overdue tax bill must have been issued less than two years before the waiver request. The request must be in writing, and the waiver of interest cannot exceed $500. If a taxpayer receives an unfavorable decision from the tax collector regarding the waiver, they must pay the interest but can then seek reimbursement from the city or town council within ten days. This act will become effective immediately upon its passage.

Budget and Finance

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