4.45.350 Rates of penalty and interest.
(a) A taxpayer is required to pay the entire tax imposed by this chapter on or before the due date as set by the assembly. In the event the tax is not paid on or before the due date, the tax shall become delinquent, a penalty as set forth in subsection (b) of this section shall be added to all delinquent taxes, and interest at the rate of one percent per month shall accrue on the amount of unpaid tax, not including penalty, from the due date until paid in full. Payments received after the tax has become delinquent shall be applied first to payment of any collection costs, next to accrued interest, next to penalty charges, and next to the tax. If there is a balance of tax due, additional interest at the rate of one percent per month shall accrue thereon until paid in full.
(b) The rate of penalty which shall apply to delinquent property taxes shall be as follows:
|
If Payment Made: |
Additional Penalty (Percentage of Tax) |
|---|---|
|
(1) Within seven working days after delinquency date |
1% of the amount of tax due |
|
(2) More than seven working days up to and including 30 days after delinquency date |
15% |
|
(3) More than 30 days after delinquency date |
20% |
[Ord. No. 1469, §1, 3-3-08; Ord. No. 1170, §1, 2-5-01; Ord. No. 721, §1, 12-18-89; Ord. No. 554, §1, 1-20-86; Ord. No. 2. Code 1974 §45.11.125. Code 1969 §69.05.045.]