(A) All taxes shall be due and payable October 1, in the year in which the assessment is made.
(B) If any person assessed for taxation shall not pay the taxes due the city on or before January 1 of the following year in which the assessment is made, interest at the rate of twelve percent (12%) per annum shall attach to such taxes and shall be paid at the time the taxes are paid.
('60 Code, § 15-3; Am. Ord. 1999-01, passed 2-8-99)