AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

SB 2453 allows cities and towns to create programs waiving interest on overdue property taxes for commercial properties. To qualify, taxpayers must own the commercial property for five years, provide written proof of timely tax payments for five years, and request the waiver within two years of the overdue bill. The waiver is capped at $500 per request, and local tax collectors must issue written decisions with appeal options to city councils. This bill enables local governments to adopt ordinances implementing this relief, directly affecting commercial property owners who fall behind on quarterly tax payments.