The payment of delinquent taxes may be in installments
pursuant to an agreement between the enforcing officer and eligible
owner. 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 this article. Such installment payment of eligible delinquent
taxes shall commence upon the signing of an agreement between the
enforcing officer and the eligible owner. The agreement shall be kept
on file in the office of the enforcing officer.
Every agreement for payment of delinquent taxes
in installments shall provide:
A. The maximum term of installment agreements, which
shall not exceed 24 months.
B. The payment schedule, which shall be monthly, bimonthly,
quarterly or semiannually.
C. The required initial down payment, if any, which shall
not exceed 25% of the eligible delinquent taxes.
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
§ 924-a of the Real Property Tax Law, or such other law
as may be applicable. 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 applicable rate for each month
or portion thereof until 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.
The provisions of this article 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.
This article shall apply to all properties within
the tax districts of the Town of Mount Pleasant.