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Maine
Municipal Tax Collectors' & Treasurers' Association |
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MMTCTA
List Serve |
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Posted by Nikki Verrill, Minot, July 10, 2007: If anyone out there would like to help me calculate interest on some unpaid taxes, please email me at clerk@minotme.org. For some strange reason, our computer will not calculate interest on 3 accounts and I have been waiting for NDS to get back to me. I would like to get this done before the end of the day. I am using the instructions on page 10 of the Municipal Liens Manual but I don't trust the figures that I am getting and could use some help.
Responses: Where X = taxes due, Y = days late, Z = the interest rate to be charged per town vote, multiply X by Z, divide this quotient by 365 (days /year) and multiply that dividend by Y. Should be "close enough for government work"!! (Tom Goullette, Guilford)
Thanks, it worked great!!! I'll make sure I tuck this email away for the next time the computer malfunctions. (Nikki Verrill)