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Posted by Laurie Boucher, Richmond, May 16, 2007:The article about the rate of interest to be established on overpaid taxes under section 36 506-A states 8 - 12%.  Does anyone know if the Town has the authority to put a lower amount than 8% on the warrant?

Responses: The statute (36 MRSA § 505) only specifies the maximum rate on delinquent property taxes. It's my understanding that a town may choose a lower rate on delinquent taxes, and the refund may be 4% less than that rate. The 8-12% range only applies to overpaid taxes prior to April 1, 1996. (Stu Marckoon, Lamoine)