It is declared that the establishment of an installment agreement pursuant to § 1184 of the Real Property Tax Law which would allow eligible owners of real property to pay their delinquent taxes in installments over a two-year period is desirable and acceptable to a majority of the Village Board.
[Adopted 2-10-2004 by L.L. No. 2-2004]
The purpose of this article is to allow eligible owners of real property in the Village of Valatie to pay their eligible delinquent taxes by entering into an installment agreement with the Village to pay these taxes over a two-year period. This article enables the eligible owners to mail uniform payments to the Village rather than the Village demanding the entire tax to be paid in full and then foreclosing on the property if the owner is not able to pay the entire amount due upon request.
The following terms will apply to the installment agreement executed between all eligible property owners and the Tax Enforcing Officer:
A.
The owner(s) of each parcel must execute the installment agreement;
B.
There shall be a separate agreement executed for each eligible parcel;
C.
All owners of each parcel are jointly and severally liable;
D.
The terms of the installment agreement will be 24 months;
E.
The eligible owners must make payments monthly in an amount set by the Tax Enforcing Officer;
F.
Eligible owners are required to make an initial down payment of 25% of the eligible delinquent taxes;
G.
This article shall apply to all properties within the Village of Valatie;
H.
Payments will be paid in equal amounts as set by the Tax Enforcing Officer on each payment due date;
I.
Each installment payment shall be due on the last day of the month in which it is due;
J.
Interest on the amount of taxes due, less the amount of the 25% down payment, is at a rate specified in § 924-a of the Real Property Tax Law. The rate of interest in effect on the date the agreement is signed is controlling. If an installment is not received by the Tax Enforcing Officer 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 until payment is received;
K.
If eligible owners fail to pay an installment pursuant to this installment agreement 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(s) shall be deemed to be in default of the installment agreement upon:
(1)
Nonpayment of any installment within 30 days from the payment due date;
(2)
Nonpayment of any tax, special ad valorem levy or special assessment which is levied subsequent to the signing of the agreement by the tax district, and which is not paid prior to the expiration of the warrant of the collecting officer;
(3)
Default of the eligible owner(s) on another agreement made and executed pursuant to this section.
B.
If the eligible owner(s) defaults under this agreement, the Village of Valatie has the right to demand that the owner(s) pay the outstanding balance in full, including interest and late charges. If the eligible owner(s) fails to pay the outstanding balance in full, the Village of Valatie may continue the tax foreclosure proceeding.
A.
Within 45 days after receiving the return of unpaid taxes or as soon hereafter as is practicable, the Tax Enforcing Officer shall notify all property owners who are potentially eligible to make installment agreements on such delinquent taxes by first-class mail.
B.
The Tax Enforcing Officer will be allowed to add $1 to the amount of the tax lien for this mailing.
C.
The failure of the Tax Enforcing Officer to mail any notice or the failure of the addressee to receive this notice shall not affect the validity of taxes or interest.
D.
The Tax Enforcing Officer shall not be required to notify the eligible property owner when an installment payment is due.
This article is effective immediately.