[Approved 3-22-2012 by Ch. No. 2992]
A.
The Finance Director and/or the Tax Collector is authorized to waive
interest on motor vehicle or tangible taxes if the tax is paid in
full based on the following schedule of delinquency status:
|
Years Delinquent
|
Percentage of Interest Waived
| |
|---|---|---|
|
1
|
0%
| |
|
2
|
0%
| |
|
3
|
50%
| |
|
4
|
55%
| |
|
5
|
60%
| |
|
6
|
65%
| |
|
7
|
70%
| |
|
8
|
75%
| |
|
9
|
85%
|
B.
There will be a cap of $1,000 on any interest waived regardless of the percentage calculation noted in § 363-70A.
C.
The Finance Director and/or Tax Collector will utilize the schedule in § 363-70A when a taxpayer requests hardships or other pertinent circumstances which may require other adjustments due to error. The following are examples but are not all inclusive: moved, car stolen, plates not turned in to registry upon moving or car being stolen, bill not received due to wrong address, registry error, partially paid to another city, out of the country, unemployment and sickness/hospitalization. Waiving of interest will only be considered if past payment history was good or the billing was an error.
A listing of all interest waivers granted by the Finance Director
and/or Tax Collector shall be forwarded to the City Council on a quarterly
basis. The listing shall include date of waiver, taxpayer name, tax
account number, tax year, amount of tax paid in full, amount of interest
paid, amount of interest waived and reason for providing the waiver.
If the rate changes from the current 13% by direction of the
City Council or Legislature, then this article should be reviewed.
