[Adopted 1-17-1995 by L.L. No. 3-1995]
This article is enacted to allow installment
payment of eligible delinquent taxes pursuant to § 1184
of the Real Property Tax Law. Such installment payment of eligible
delinquent taxes shall be made available to each eligible owner on
a uniform basis pursuant to the provisions of § 1184 of
the Real Property Tax Law and those terms and conditions contained
herein.
In addition to the requirements contained in
§ 1184 of the Real Property Tax Law, the installment agreement
between the Director of Finance and eligible owner shall include the
following terms:
A.
The maximum term of installment agreements shall be
24 months.
B.
The amount due under the 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 amount due shall be paid, as nearly
as possible, in equal amounts on each payment due date on a monthly,
quarterly or semiannual basis. Such payment shall commence upon the
signing of an agreement between the Director of Finance and the eligible
owner. Each installment payment shall be due on the last day of the
month in which it is to be paid.
C.
A down payment of at least 25% of the eligible delinquent
taxes shall be due and payable on the date of the installment agreement.
D.
A property owner may pay the outstanding amount due
without penalty at any time during the term of the installment agreement.
A property owner shall be eligible to enter
into an installment agreement pursuant to § 1184 of the
Real Property Tax Law no earlier than 24 months after a delinquent
tax first becomes a lien.
This article shall apply to all properties within
the New Rochelle tax district.
