Provides for interest to accrue on missed installment payments beginning from the due date of such missed installment payment

This bill amends New York's real property tax law to clarify that interest on missed installment payments begins accruing on the original due date of the payment, not later. It directly affects property owners who pay taxes in installments and miss a payment deadline. The key provision specifies that interest starts immediately from the missed payment's due date, as determined by law, rather than from a later date. This change streamlines the interest calculation process for local tax authorities and property owners.