Section 11-306. Interest to be charged if assessments unpaid for ninety days; payment in installments

If any assessment shall remain unpaid for the  period of ninety days after the date of the entry thereof on the  record
  of  titles  of  assessments, it shall be the duty of the commissioner of
  finance or his or her designee to charge, collect and  receive  interest
  thereon, at the rate of seven percent per annum, to be calculated to the
  date  of  payment  from  the  date when such assessment became a lien as
  provided by section three hundred fourteen of the charter  in  force  at
  the  time  of the adoption of the New York city charter by referendum in
  the  year  nineteen  hundred  sixty-one,  provided,  however,  that  the
  commissioner  of  finance or his or her designee shall accept and credit
  as payments on account of assessments now or  hereafter  levied  against
  any  parcel  or  plot  of  property,  such  sums  of money not less than
  twenty-five dollars or multiples thereof in amount as  may  be  tendered
  for payment on account of any assessment now or hereafter levied against
  any  property.  Upon  requisition by the commissioner of finance for the
  assessed valuation of the  property  affected  by  any  assessment,  the
  president  of  the tax commission, or any tax commissioner duly assigned
  by him or her, shall forthwith certify the same to the  commissioner  of
  finance.