Be it further enacted, that on the first day of January of the year following that for which the taxes are assessed, or other date provided by ordinance, a penalty of one and one-half percent (1.5 %) per month upon all taxes, other than privilege and merchants' ad valorem taxes, remaining unpaid shall be imposed and collected by the City of Crossville and paid into the City Treasury. (As amended by Priv. Acts 2014, ch. 55, sec. 1)