In the event that any person fails to pay the tax required by this article or reports an amount of tax due, then in addition to the amount of the tax, interest shall accumulate and be due and payable by that person upon the tax at the rate of 1% per month commencing as of the first day following the day when the deed or trust deed was recorded or the trust document was accepted by the Trustee. In addition, a penalty of 25% of the tax and interest due shall be assessed and collected against any person or entity who fails to pay the tax imposed by this article or conspires to cause the payment of less than the tax due.
(Ord. 92-04-41, passed 4-14-1992; Ord. 2005-08-45, passed 8-15-2005)