Pursuant to the authorization provided by Act No. 126 of 1976, as amended, the rates of discounts and penalties on the annual Real Estate Tax are hereby established as follows:
(a) Taxpayers who make payment of the whole amount of the taxes due within two months after the official date of the tax notice shall be entitled to a discount of two percent of the amount of such taxes.
(b) Taxpayers who fail to make payment of the whole amount of the taxes due within four months after the official date of said tax notice shall be charged a penalty of ten percent of the amount of such taxes. Thereafter, an additional penalty of ten percent of the amount of such taxes shall be charged for each year, or portion of a year, during which the taxes remain unpaid. The penalty shall be added to the taxes by the Tax Collector and collected in accordance with the law.
(c) Taxpayers who fail to make payment of the whole amount of the taxes due within four months after the official date of said tax notice shall be charged interest of six percent per year, until such indebtedness is fully paid. The interest shall be added to the taxes and collected in accordance with the law.
(Ord. 863. Passed 12-11-89.)