(A) For transition purposes, the 1996 tax year will be treated differently in terms of collection of taxes than for all subsequent years. For the 1996 tax year, the city will issue tax bills to financial institutions no later than May 31, 1997. Payment of the tax shall be due with a two percent (2%) discount by May 31, 1997, or without the discount by June 30, 1997.
(B) For all tax years subsequent to the 1996 tax year, the city will issue tax bills to financial institutions no later than December 1 of each year. Payment of the tax shall be due with a two percent (2%) discount by December 31 of each year or without the discount by January 31 of each year.
(Ord. 96-007, passed 8-12-96)