(b) If an installment is not paid on or before the date it is due, additional interest shall be added as provided by section nine hundred seventy-five or section thirteen hundred forty of this chapter.

(c) The amount of any interest which shall be added to any installment pursuant to this section and section nine hundred seventy-five or section thirteen hundred forty of this chapter shall belong to the county. 4. Eligible property. (a) A local law establishing an installment program pursuant to this section may provide that the program shall be limited to one or more of the following types of property:

(i) property which has been assessed as a one, two or three family residence; or

(ii) property which is exempt from taxation pursuant to section four hundred sixty-seven of this chapter; or

(iii) property which is exempt from taxation pursuant to section four hundred fifty-nine of this chapter, or which is owned and occupied by a person or persons who qualify as physically disabled pursuant to that statute; or

(iv) property which is owned by, and used as, the principal residence of, a person who receives supplemental security income.

(b) If the local law does not provide otherwise, the program shall apply to all types of property.

(c) Notwithstanding the foregoing, taxes which are paid through a real property tax escrow account may not be paid in installments pursuant to this title. 5. Adoption by certain cities and towns. Any city or town having the power to collect and enforce taxes levied or imposed pursuant to law may elect, by local law or ordinance, to have the provisions of this title apply to such city or town, in which case all references to the county legislative body shall refer to the legislative body of such city or town and the references to other local officers shall refer to the corresponding officers of such city or town; provided however, that the manner and time provided by law for paying taxes imposed on behalf of another municipal corporation or special district shall not be modified by the enactment of such local law or ordinance.