(A) All taxes due the city shall become due and payable on October 1 of the year for which they are levied and assessed, and shall be paid before February 1 of the following year.
(B) (1) If any person fails to pay such taxes before February 1, such taxes shall be delinquent and shall bear interest at the rate of 1% for each month or portion of a month the tax remains unpaid, and, in addition thereto, a penalty of 6% of the amount of the tax for the first calendar month it is delinquent plus 1% for each additional month or portion of a month the tax remains unpaid prior to July 1 of the year in which it becomes delinquent. However, a tax delinquent on July 1 incurs a total penalty of 12% of the amount of the delinquent tax without regard to the number of months the tax has been delinquent.
(2) When any penalty or interest has become due on any taxes for failure to pay the same when due, such penalty and interest shall not be permitted but shall be collected.
('68 Code, § 26-1) (Ord. passed 5-11-54; Am. Ord. 7-1975-19, passed 7-8-75; Am. Ord. 12-1981-45, passed 12-8-81)