In the event a determination has been made that a tax is due and owing, through audit, assessment or other bill sent, the tax must be paid within the time frame otherwise indicated.
(A) Interest. The village hereby provides for the amount of interest to be assessed on a late payment, underpayment, or nonpayment of the tax, to be 1% per month, or portion thereof.
(B) Late filing penalties. If a tax return is not filed within the time and manner provided by the controlling tax ordinance, a late filing penalty, of 5% of the amount of tax for each month the return is late up to a maximum of 25% of the net tax amount shall be added.
(Ord. 876, passed 1-2-2001)