CT SB00038

Establishes a local option allowing municipalities to charge interest on delinquent property taxes at rates between 15 and 18 percent per annum, instead of the fixed 18 percent rate.

Requires tax collector notices to state the specific interest rate that will apply to delinquent taxes in that municipality.

Applies to assessment years commencing on or after October 1, 2014, with municipalities able to adopt the lower rate option by vote of their legislative body or board of selectmen.

Extends the local rate option to property taxes collected under personal property tax provisions and tax sale redemption procedures.

Maintains existing provisions allowing municipalities to waive interest on delinquent taxes when delinquency results from assessor or collector error.