Tax payments must be received on or before the due date to avoid interest and demand charges. If payment is not made on or before the due date the account will begin to accrue interest at the rate of 14% per annum, computed from the date the bill was due.
On the 4th quarter bill, a demand notice will be sent and a demand fee of $25 is charged against the account.
If the account remains delinquent the owner's Name, Address and the amount of outstanding taxes will be advertised in the Reading Chronicle and the advertising fee will be charged to the account.
If the account continues to remain delinquent, a tax lien (a legal claim placed on the property for debt) is placed on the property and is recorded with the Middlesex County Registry of Deeds. A tax lien is the first step in the foreclosure process. All taxes, costs, and interest must be paid to prevent foreclosure. All costs incurred are charged to the account in the foreclosure.