(A) Any tax not paid when due shall bear interest at 2% per month, or fraction thereof, until the tax is paid.
(B) In addition to any interest charged, any tax not paid when due shall subject the lessor failing to pay such to a 10.00% late payment penalty, unless a late filing penalty is due as provided in division (C) below. This penalty shall be calculated upon the amount of tax underpaid.
(C) In addition to any interest charge, any remittance return not filed when due shall subject the lessor failing to file such to a 10.00% late filing penalty calculated upon the total tax liability due for such filing period.
(D) Any payment or return not physically received by the village by the due date shall be considered late.
(E) All payments received shall first be applied to penalty due, then interest due and finally the tax due for the period the payment is made for.
(F) The lessor shall be required to pay all tax, interest and penalty due, except that if the village finds that any late payment or late filing was due to reasonable cause, the penalty for such shall not apply.
(Ord. 97-47, passed 11-19-97)