(a) Except as provided in Section 124 of this Charter, such taxes shall be due on the first day of July of each year, and, on that day, the taxes assessed to the owners of personal property shall become a debt due to the City from the persons to whom they are assessed, and the amounts assessed on any interest in real property shall become a lien upon such real property, for such amounts and for all interest and charges thereon.
(b) All personal property taxes shall be a first lien, prior, superior and paramount on all the personal property of such persons so assessed. Such lien shall take precedence over all other claims, encumbrances and liens, to the extent provided by law, and shall continue until such taxes, interest and charges are paid.