File #:

Res 0341-2002    Version: *

Name:

Vacant or unimproved land, Interest Rates

Type:

Resolution

Status:

Adopted

Committee:

Committee on Finance

On agenda:

6/19/2002

Enactment date:

Law number:

Title:

Resolution to establish that the interest rate to be charged for non-payment of taxes on real property where the annual tax on the parcel, other than a parcel that consists of vacant or unimproved land, is not more than $2,750, be 18% per annum for Fiscal Year 2003 in the case of any such parcel where the real property taxes are held in escrow and paid to the Commissioner of Finance by a mortgage escrow agent; and 9% per annum in the case of all other such parcels.

Sponsors:

David I. Weprin, Kendall Stewart

Council Member Sponsors:

2

Attachments:

1. Hearing Transcript 6/21, 2. Hearing Transcript - Stated Meeting 6/21