SB 21-279: Delinquent Interest Payments for Property Tax Payments

• County boards of commissioners or city councils may temporarily reduce, waive, or suspend delinquent interest accrual on property taxes between June 16, 2021, and September 30, 2021, upon county treasurer approval and by resolution.

• Counties or cities that choose to reduce, waive, or suspend delinquent interest must notify at least three local taxing jurisdiction executives or board officers, and must advance property tax amounts to affected local taxing jurisdictions to help cover bonded indebtedness payments or operational costs.

• County treasurers may only advance property tax amounts to local taxing jurisdictions for bonded indebtedness if the jurisdiction has received less than 90 percent of property taxes due and properly notified the board of commissioners or city council.

• Advances for bonded indebtedness payments cannot exceed either 90 percent of total property taxes due or the amount of revenue lost from the interest reduction, waiver, or suspension.

• All provisions of this bill are repealed effective December 31, 2021.