Lunenburg: Interest Rate Hike on Overdue Tax Bills

A stern message for those who live in Lunenburg and are behind on their tax bill. Town council has approved a motion to increase the annual interest rate on overdue accounts to 24 percent. The rate had been set at 18 percent. Councillor Peter Zwicker says the town is trying to crack down on chronic cases of tardy payment.

"You know, I think there are some taxpayers out there that have the thought that they pay the interest rate and that's OK. Well, we're not a bank, we don't run big profits so if you're not paying your taxes...we have to find that money somewhere else,"

The motion passed by a 4-3 margin. The new interest rate will be applied beginning October 1st.