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(A) All real property taxes shall become delinquent on and after the first day of March next following the date on which the taxes are due and payable and shall thereupon be subject to such penalty and interest as is authorized and prescribed by the state law for delinquent county real property taxes.
(B) All taxes shall bear interest at a rate of 12% annum from and after the date of delinquency.
(C) In addition, there is levied and shall be collected on all delinquency taxes a penalty of ½% per month for each month of delinquency or part thereof and which shall accrue on the first day of each month such taxes are delinquent.
(`83 Code, § 6-102)