(A) Pursuant to the authority of Wisconsin Statutes § 74.47(2), the City hereby imposes a penalty of 0.5% per month or fraction of a month, in addition to the interest prescribed by Wisconsin Statutes § 74.47(1) (presently 1% per month), on all overdue or delinquent personal property taxes retained for collection by the City or eventually charged back to the City by the county for purposes of collection under Wisconsin Statutes § 74.42.
(B) This penalty of 0.5% per month or fraction of a month shall apply to any personal property taxes which are overdue or delinquent on or after November 1, 1983, or which subsequently become overdue or delinquent.
(Ord. 464, passed 9-6-83)