There shall be an annual ordinance to adopt the county ad valorem property tax assessment for the city and to levy an ad valorem tax thereon for the general operation of the city. Current assessment date is January 1, for the fiscal year July 1 to June 30. (Taxes are billed the first business day of January of the assessment year, and payable with a 40% discount if received by the end of the following February; face value is due up to March 31. If paid any time in April, a 15% penalty applies; 4% interest per month thereafter.) Note: tax bills are mailed to the owner of record (or mortgage company) as of January 1 of the assessment year.
(Prior Code, § 19.1)