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Caribou council authorizes early property-tax payments at 0% interest and approves 'tax club' monthly plan
Summary
Councilors authorized the tax collector to accept prepayments for 2025 property taxes at 0% interest and approved a tax-club program allowing 12 monthly estimated payments with no interest applied for October–December; some councilors voiced concern that 0% is unfair compared with interest charged to delinquent taxpayers.
At its Jan. 2 meeting the Caribou City Council voted to allow early payment of 2025 property taxes at a 0% interest rate and approved the city’s 2025 “tax club,” a program permitting property owners to make 12 equal monthly estimated payments and not incur interest for October, November and December after the final commitment.
The manager read statutory background: Maine law permits municipalities to accept prepayments and authorize interest on those…
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