All city ad valorem taxes shall be due and payable on October first of the year for which levied, and shall become delinquent at midnight of January thirty-first of the following year, and upon becoming delinquent, a penalty of ten percent shall be added and interest at the rate of six percent per annum accrue. A lien is hereby created on all property, both real and personal for all ad valorem taxes, which lien shall exist from the first day of January each year until all the taxes are paid, and that such lien shall be prior and superior to all other liens and claims.
(Code 1943, Art. 54-15)