[Ord. No. 957, §§ I, II, 5-24-2005; Ord. No. 1085, § I, 8-12-2014]
Pursuant to the provisions of MGL c. 60, § 62A, the
Treasurer is hereby authorized to enter into payment agreements with
persons entitled to redeem parcels in tax title (hereinafter referred
to as “tax title agreement”). In order to enter into a
tax title agreement with the Treasurer, persons entitled to redeem
parcels in tax title must make a minimum payment of no less than 25%
of the total amount needed to redeem the parcel; which payment must
be made to the Treasurer on the date that the tax title agreement
is executed. Persons entitled to redeem parcels in tax title have
five years from the date on which the tax title agreement is executed
in which to redeem the parcel in tax title. There shall be a waiver
of 50% of the interest accrued on the amount in the tax title account
at the time on which the tax title agreement is executed. During the
term of a tax title agreement, the City shall not take any action
to foreclose upon any tax title property, unless the taxpayer fails
to make payments within the schedule set forth in the tax title agreement
or the taxpayer fails to make timely payments on other amounts due
to the City that constitute a lien on the same parcel.
