(A) In addition to any tax and penalties due, if a person fails to collect and pay to the City Collector the tax imposed by this chapter when the same is due, interest shall accumulate and be due upon the tax at the rate of 0.5% per month, commencing as of the first day following the day when the tax becomes due.
(B) Any transferor or transferee who fails to file with the City Collector a real estate transfer declaration as required by § 888.09, or a supplemental transfer declaration as required by § 888.15, prior to the City Collector issuing a notice of tax audit, investigation or liability in connection with the transfer of title to, or beneficial interest in, real property, shall be subject to a penalty equal to the amount of the applicable tax. This penalty shall be in addition to any tax and interest due.
(1999 Code, § 888.13) (Ord. 94-13, passed 3-8-1994)