Dept/ Agency: Finance Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: To implement short term Amnesty and Interest Reduction Programs Purpose: Amnesty Program on Interest rates charged on Delinquent Property Taxes and Municipal Tax Liens Only. (To be Paid in May 2014). Interest Reduction Program to implement a temporary interest reduction program on Delinquent Taxes and Municipal tax Liens Only. (To be Paid in June 2014) Program Period: Amnesty Program for Delinquent Property Taxes: 05/01/2014 through 05/30/2014 only. Interest Reduction Program for Delinquent Property Taxes and Municipal Tax Liens: 06/02/2014 through 06/30/2014 only. Additional Information: The following information applies to the Interest Reduction Program for June 2014 only Current Rate Proposed Rate 8% on first $1,500.00 delinquency 4% on first $1,500.00 delinquency 18% on remaining balance 9% on remaining balance