(A) From and after February first next following the date any duly levied or assessed tax shall have been due and payable to the city, the following penalty and interest shall be assessed until the unpaid taxes, penalty and interest have been paid and satisfied.
(1) During the month of February, 1%.
(2) During the month of March, 2%.
(3) During the month of April, 3%.
(4) During the month of May, 4%.
(5) During the month of June, 5%.
(6) On and after July 1, 8%.
(B) Additionally, all delinquent taxes shall bear interest at the rate of 6% per annum from the date of their delinquency.
('78 Code, § 14-2) (Ord. 209, passed 2-11-69)