The media has discovered that the Department of Environmental Protection in New York City will begin an amnesty program on Monday that will waive late fees and interest associated with past-due water bills.
People who owe money on past-due water bills would still be responsible for paying for the water they have used under the scheme, but if they pay off the entire principal, they would be exempt from any late fees and interest.
The official stated, “It’s a significant saving.” “It’s crucial for us that we can recover this money.”
The program’s grace period will start on Monday and extend until April 30.
Nearly one in four of the city’s water users, or about 200,000 bill payers, are currently overdue on their water bills.
Approximately $1.2 billion worth of debt is outstanding overall, with residential properties accounting for 85% of that sum.
The program for amnesty will operate on a sliding scale. According to the official, customers will not be charged any interest or late fees if they pay off the entire principal balance.
They will have 75% of the interest waived if they pay down 50% of the debt. The city will waive 50% of the claim upon payment of one-fourth of the principal.
The representative claimed that while the program does not fall under the mayor’s austerity plans, it is consistent with his broader initiatives to identify savings in light of the current economic situation.
The insider stated, “This goes within attempting to do everything we can to recoup the money.”
It’s a prudent financial decision for us and homeowners who will save money they otherwise wouldn’t.
The Department of Environmental Protection is also exploring providing further aid to low-income individuals.
The city will match that amount with an extra $5,000 if a customer is registered in the state’s Low Income Water Aid Program and has previously received $5,000 in assistance.