AN ACT REDUCING THE INTEREST RATE ON DELINQUENT PROPERTY TAX PAYMENTS.

This bill would reduce the interest rate charged on overdue property taxes from 18% to 8% annually. It directly affects property owners who fall behind on tax payments, lowering the additional cost they owe on unpaid balances. The key provision amends Title 12 of the general statutes to implement this rate change. This is a straightforward statutory adjustment with no new requirements or administrative processes for the government.