Interest rate to be charged for Fiscal Year 2003 for non-payment of taxes on real property where the annual tax is not more than $2,750 (18%) & (9%).

Communication from the New York City Banking Commission - Transmitting resolution recommending that the interest rate to be charged for Fiscal Year 2003 for non-payment of taxes on real property where the annual tax is not more than $2,750 or where the real property taxes are held in escrow and paid by a mortgage escrow agent be eighteen percent (18%), and nine percent (9%) in all other such parcels.