§ 11-306 Interest to be charged if assessments unpaid for ninety days; payment in installments.
AC § 11-306
If any assessment shall remain unpaid for the period of ninety days after the date of the entry thereof on the record of titles of assessments, it shall be the duty of the commissioner of finance or his or her designee to charge, collect and receive interest thereon, at the rate of seven percent per annum, to be calculated to the date of payment from the date when such assessment became a lien as provided by section three hundred fourteen of the charter in force at the time of the adoption of the New York city charter by referendum in the year nineteen hundred sixty-one, provided, however, that the commissioner of finance or his or her designee shall accept and credit as payments on account of assessments now or hereafter levied against any parcel or plot of property, such sums of money not less than twenty-five dollars or multiples thereof in amount as may be tendered for payment on account of any assessment now or hereafter levied against any property. Upon requisition by the commissioner of finance for the assessed valuation of the property affected by any assessment, the president of the tax commission, or any tax commissioner duly assigned by him or her, shall forthwith certify the same to the commissioner of finance.
