Payment plans vs. paying your bill all at once
A payment plan allows you to make a series of smaller payments instead of making one large payment, but it increases the total amount you will pay. This is because interest will continue to be added to your balance until the amount you owe is completely paid off. For example, if you owe $10,000 and you choose a five-year payment plan with 9% interest, you will end up paying a total of more than $12,000.
When payment plans can be used
Payment plans can be used for property taxes and many other property charges. If you have missed payments on your property tax bills, and you have an outstanding balance, you can enter into a payment plan. If your property is at risk for a lien sale or in rem action, you can still enter into a payment plan. However, you cannot enter into a payment plan with the Department of Finance if a tax lien sale or an in rem action has taken place.
If your property was already subject to an in rem enforcement action, you must obtain approval from the Department of Housing Preservation and Development for a payment agreement.
Sidewalk Repair Charges
There is a separate sidewalk charges payment plan application. Eligibility information is included in the application. For sidewalk-repair charges, the annual interest rate is 8.5%.