Dept/Agency: Finance Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Reducing Interest rates charged on delinquent property taxes. Purpose: Implement a temporary interest reduction program on delinquent taxes Program Period: 10/9/12 through 11/30/12 only. Additional Information: Current Rate Proposed Rate 8% on first $1,500. delinquency 4% on first $1,500. delinquency 18% on remaining balance 9% on remaining balance