All real property taxes shall become delinquent on and after the first day of March next after they become due and payable and shall thereupon be subject to such penalty and interest as is authorized and prescribed by the state law for delinquent county real property taxes.
(2011 Code, § 5-202)
Statutory reference:
If the County Trustee collects the municipality’s property taxes, a penalty of 0.5% and interest of 1% shall be added on March 1, following the tax due date and on the first day of each succeeding month, see Tenn. Code Ann. § 67-5-2010(b)
A municipality has the option of collecting delinquent property taxes any one of three ways:
(1) Under the provisions of its charter for the collection of delinquent property taxes;
(2) Under Tenn. Code Ann. §§ 6-55-201 through 6-55-206; and
(3) By the County Trustee under Tenn. Code Ann. § 67-5-2005