Dept/ Agency: Finance Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Reducing Interest rates charged on delinquent property taxes and municipal tax liens. Purpose: Implement a temporary interest reduction program on delinquent property taxes and municipal tax liens. Program Period: March 1, 2018 through May 30, 2018 only Additional Information: Current Rate Proposed Rate 8% on first $1,500. delinquency 0% on first $1,500. delinquency 18% on remaining balance 0% on remaining balance