A lot has changed since 1991, when the city set the interest penalty at 18 percent for unpaid taxes on large properties. Inflation and interest rates are at historic lows and a pandemic is pounding the economy, but that steep rate for late payers remains — to the dismay of the real estate industry. “No one is saying the penalty should be waived,” said Paimaan Lodhi, a senior vice president at the Real Estate Board
source https://therealdeal.com/2020/05/21/no-covid-break-for-big-properties-with-unpaid-taxes/
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