Sec. 78-2Due date; payment; interest on past due taxes

(a) All ad valorem taxes shall be due and payable in full within 60 days after notice, unless the due date falls on a Saturday, Sunday, or legal holiday, in which case it shall be postponed until the first day following which is not a Saturday, Sunday, or legal holiday. Supplemental ad valorem taxes and special assessments shall be due and payable on the date set forth in the ordinance imposing the tax or assessment.

(b) All taxes and assessments imposed by the city shall be paid in full in legal tender of the United States; except where specially authorized by law or ordinance of the mayor and council, no partial payments shall be accepted.

(c) Taxes and special assessments shall bear annual interest at the rate of three percent above the federal prime rate. In 2016, this rate shall be .542 percent assessed each month from the date the tax or assessment is due until the date the tax or assessment is paid. For purposes of this section, any period of less than one month shall be considered to be one full month. The city clerk may waive the collection of any interest, in whole or in part, due the city on unpaid taxes or assessments whenever or to the extent that he/she reasonably determines that the delay in payment was attributable to the action or inaction of his/her department.

History: (Ord. No. 16-06, § 1, 8-4-2016)