Pursuant to the provisions of Massachusetts General Law Chapter
60, § 62A, the Treasurer/Collector of the Town of Sterling
("Town") may enter into a written payment agreement ("agreement")
with any person(s) entitled to redeem ownership of parcels of real
estate ("redeemer") which have been taken by the Town as a result
of nonpayment of real estate taxes. The agreement shall be executed
by the Town and redeemer and shall set forth the terms and conditions
for payment of the delinquent taxes, interest and any other costs,
fees or charges associated with the same.
A. The redeemer of the following assessment categories of real property
shall be eligible to enter into an agreement provided for in the preceding
paragraph:
B. The following conditions must be met prior to the Town and redeemer
entering into an agreement.
(1) The Town has not filed a petition to foreclose the rights of redemption
with the Land Court, and the recording date of the Instrument of Taking
recorded in the Worcester County Registry of Deeds or Worcester Registry
District of the Land Court must be no more than 10 years from the
date of the proposed agreement; and
(2) All real estate taxes due for the current fiscal year assessed against
the parcel must be paid to date.
C. All payment agreements shall comply with the following minimum requirements:
(1) The payment agreement shall have a term of five years; provided,
however, that nothing herein shall preclude the taxpayer from completing
payments of the amount owed in a shorter period of time;
(2) The payment agreement shall include a waiver of 50% of the interest
that has accrued in the tax title account, but only if the taxpayer
complies with the terms of the agreement (no taxes or collections
costs may be waived); and
(3) The payment agreement shall state the amount of the payment due from
the taxpayer at the time of execution of the agreement, which must
be at least 25% of the amount needed to redeem the parcel at the inception
of the agreement. The taxpayer must then agree to pay the remaining
balance due to the Town in equal monthly installments.
D. After the Town has received 75% of the total amount due, the taxpayer
shall be entitled to a credit equal to 25% of the accrued interest
on the tax title account. This credit shall be applied against the
final installment payment(s) due under the payment agreement.
E. During the term of the agreement, the Town may not bring an action
to foreclose the tax title of the redeemer unless payments are not
made in accordance with the schedule provided in the agreement or
timely payments are not made on other amounts due to the municipality
that constitute a lien on the same parcel.