City taxes shall be due and payable on the 15th day of September each year. To all taxes paid after September 15th, there shall be added a four (4) percent penalty, and to all taxes paid after said date, there shall also be added interest at the rate of one-half (1/2) of one (1) percent for each month or fraction of a month intervening between said date and the date of payment, or the first day of March of the next succeeding calendar year, whichever date shall occur first. The added penalties and interest herein provided shall belong to the City, and shall constitute a charge and shall be a lien against the property to which the taxes themselves apply, collectible in the same manner as the taxes to which they are added.
(Amended 5-8-07)