[Adopted 7-5-2016 by L.L.
No. 4-2016]
The Village Treasurer is hereby granted the authority to prepare
and execute, on behalf of the Village of Woodridge, agreements with
eligible owners for the installment payment of eligible delinquent
taxes effecting all properties within the Village, in accordance with
§ 1184 of the Real Property Tax Law, without further notice
to or consent of the Village of Woodridge Board.
The Village Treasurer shall determine, and the installment agreement
shall specify, the maximum term to be determined by the Village Treasurer
on a case-by-case basis, which, however, said maximum term shall not
exceed 24 months.
The payment schedule shall be specified in the installment agreement
and upon determination of Village Treasurer on a case-by case basis.
The preferable schedule is quarterly, however, the installment agreement
can provide for payments to be made monthly or quarterly, in the discretion
of the Village Treasurer.
The required initial down payment, as determined in the discretion
of the Village Treasurer, shall be either 15% or 25% of the eligible
delinquent taxes.
Any property within the Village of Woodridge shall be eligible
for installment payment plan.
A property owner shall not be eligible to enter into an agreement
pursuant to this article where:
A.
There is a delinquent tax lien on the same property for which the
application is made or on another property owned by such person, and
such delinquent tax lien is not eligible to be made part of the agreement
pursuant to this article;
B.
Such person is the owner of another parcel within the Village of
Woodridge on which there is a delinquent tax lien, unless such delinquent
tax lien is eligible to be and is made part of the agreement pursuant
to this article;
C.
Such person was the owner of property of which there existed a delinquent
tax lien and which lien was foreclosed within three years of the date
on which an application is made to execute an agreement pursuant to
this article; or
D.
Such person defaulted on an agreement executed pursuant to this article
within three years of the date on which an application is made to
execute an agreement pursuant to this article.
The amount due under an installment agreement shall be the eligible
delinquent taxes plus the interest that is to accrue on each installment
up to and including the date on which such payment is to be made.
The agreement shall provide that the amount due shall be paid, as
nearly as possible, in equal amounts on each payment due date. Each
installment payment shall be due on the last day of the month on which
it is to be paid. Such payments shall be applied first to penalties
and other charges and then to principal.
Interest on the total amount of eligible delinquent taxes, less
the amount of the down payment made by the eligible owner, shall be
the amount determined pursuant to § 924-a of the Real Property
Tax Law. The rate of interest in effect on the date the agreement
is signed shall remain constant during the period of the agreement.
If installment is not made on or before the date it is due, interest
shall be added at the rate prescribed by § 924-a of the
Real Property Tax Law for each month or portion thereof till paid.
In addition, if an installment is not paid by the end of the 15th
calendar day after the payment due date, a late charge of 5% of the
overdue payment shall be added.
A.
The eligible owner will be deemed to be in default of the agreement
upon:
(1)
Nonpayment of any installment within 30 days from payment due date;
(2)
Nonpayment of any tax, special ad valorem levy, or special assessment
which is levied subsequent to the filing of the agreement by the Village
of Woodridge and which is not paid prior to the receipt of the return
of unpaid taxes by the Village Treasurer;
(3)
Default of the eligible owner on another agreement made and executed
pursuant to this section.
B.
In the event of a default, the Village of Woodridge shall have the
right to require the entire unpaid balance, with interest and late
charges, to be paid in full. The Village of Woodridge should also
have the right to enforce the collection of the delinquent tax lien
pursuant to the applicable sections of law, special tax act, charter
and local law.
C.
Where an eligible owner is in default and the Village does not either
require the eligible owner to pay in full the balance of the delinquent
taxes or elects to institute foreclosure proceedings, the tax district
shall not be deemed to have waived the right to do so.