As used in this article, the following terms
shall have the meanings indicated:
ELIGIBLE DELINQUENT TAXES
The delinquent taxes, including interest, penalties and charges,
which have accrued against a parcel as of the date on which an installment
agreement is executed.
ELIGIBLE OWNER
An owner of real property who is eligible to or has entered
into an installment agreement.
INSTALLMENT AGREEMENT
A written agreement between an eligible owner and the enforcing
officer providing for the payment of eligible delinquent taxes in
installments pursuant to the provisions of § 1184 of the
Real Property Tax Law and this article.
The Comptroller, the enforcing officer of the
City of Kingston, is authorized to enter into an installment agreement
providing for the payment of eligible delinquent taxes in installments
with property owners. Such installment payment of eligible delinquent
taxes shall be made available to each eligible owner on a uniform
basis pursuant to the provisions of the New York State Real Property
Tax Law and this article. Such installment payments of eligible delinquent
taxes shall commence upon the signing of an agreement between the
enforcing officer and eligible owner. The agreement shall be kept
on file in the office of the Comptroller and copies of each agreement
shall be provided to the Corporation Counsel.
The term of the installment agreement shall
be 24 months, the payment schedule shall be monthly, quarterly or
semiannually, the required initial down payment shall be 25% of the
eligible delinquent taxes and eligible properties shall include all
properties within the City of Kingston.
The amount due under an installment agreement
shall be the eligible delinquent taxes plus the interest that is to
accrue on each installment payment up to and including the date on
which each 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 in which it is to be paid.
Interest on the total amount of eligible delinquent
taxes, less the amount of the down payment made by the eligible owner,
if any is required, shall be that amount as determined pursuant to
New York State Real Property Tax Law § 924-a. The rate of
interest in effect on the date the agreement is signed shall remain
constant during the period of the agreement. If an installment is
not paid on or before the date it is due, interest shall be added
at the rate prescribed by New York State Real Property Tax Law § 924-a
for each month or portion thereof until paid. In addition, if any
installment is not paid by the end of the fifteenth calendar day after
the payment due date, a late charge of 5% of the overdue payment shall
be added.
The provisions of this section shall not affect
the tax lien against the property except that the lien shall be reduced
by the payments made under an installment agreement, and that the
lien shall not be foreclosed during the period of installment payments
provided that such installment payments are not in default.
Pursuant to § 1102, Subdivision 1e,
of the Real Property Tax Law and commencing with taxes becoming a
lien in 1995, a charge of up to $150 per parcel for the reasonable
and necessary costs of title searches required or authorized to satisfy
the notice requirements of the Real Property Tax Law may be added
to the amount due.