AN ACT REDUCING INTEREST DUE ON CERTAIN UNPAID MUNICIPAL PROPERTY TAXES.

HB 5245 reduces the annual interest rate on certain unpaid municipal property taxes from 18% to 12% when a municipal tax collector files a lien on a property and assigns that lien to a third party. This change directly affects property owners who have delinquent taxes resulting in a lien transferred to a third-party entity. The bill amends Section 12-146 of the general statutes to implement this lower interest rate. It focuses solely on modifying the interest calculation for these specific lien assignments, without altering tax obligations or collection procedures.