
Quoting
ilya980
Is it a common practice (perhaps in many towns in MA) to charge penalty interest upfront as a "non-prorated" lump sum accrued through the date of the next bill??? I've never seen an interest computed this way. An interest is always computed from the due date until the amount past-due is paid in full, not until some future date, which in this case happens to be the next quarterly due date. Essentially, if my payment was only 1 day late I would still have to pay the same interest for 92 days.