(A) The interest or penalty or any portion thereof ordinarily accruing by reason of a taxpayer’s failure to pay a municipal tax within the statutory period allowed for its payment may be waived or remitted provided that the taxpayer’s failure to pay the tax is satisfactorily explained or provided such failure has resulted from a mistake by the taxpayer of either the law or the facts subjecting him or her to such tax or inability to pay such interest of penalty resulting from insolvency.
(B) The waiver or remission of all or any part of any such interest or penalties shall not become effective unless approved by a majority of the Town Board. The application for the approval of such waiver or remission shall be filed in the office of the Town Clerk.
(Prior Code, § 1-74)
Statutory reference:
Related provisions, see 68 O.S. § 220