CT SB00091

Allows municipalities to elect a local option interest rate of 10-18 percent per annum on delinquent property taxes, replacing the current fixed 18 percent rate, effective October 1, 2016.

Requires tax collectors to notify taxpayers of the specific interest rate that will apply to delinquent taxes in their municipality.

Applies the new rate structure to personal property taxes collected by the Secretary of the Office of Policy and Management under section 12-80a.

Updates property tax redemption provisions to reference the municipality-selected interest rate when calculating redemption amounts for tax-sale properties.

Tax collectors may still waive interest on delinquent property taxes if both the tax assessor and collector jointly determine the delinquency resulted from assessor or collector error, not taxpayer action or inaction.