An Act regarding late payments and interest rates for real estate bills and personal property taxes

This bill changes how interest is calculated on late real estate and personal property tax payments in Massachusetts. It replaces a fixed 14% interest rate with a provision allowing local governments (like city councils or town meetings) to set interest rates "up to 14%" based on their own decisions. Local tax collectors can now also waive late fees or create payment plans for taxpayers with unpaid balances. The law directly affects property owners who miss tax deadlines by altering the financial penalties and offering flexibility. It focuses on giving municipalities control over interest rates and providing relief options for taxpayers.