The tax imposed under this chapter is due and payable at the time of the transfer, and is delinquent if it remains unpaid for 30 days thereafter. In the event that the tax is not paid prior to becoming delinquent, a delinquency penalty of 10% of the amount of tax due shall accrue. In the event a portion of the tax is paid prior to becoming delinquent, the penalty shall only accrue as to the portion which is delinquent. Interest shall accrue at the rate of 1.5% per month, or fraction thereof, on the amount of tax, exclusive of penalties, from the date the tax becomes delinquent to the date of payment. Interest and penalty accrued shall become part of the tax.
(Ord. 26(1979) § 10(a); Ord. 5(1980) § 10(a))