§ 23-161. Interest and penalties.

In the event a determination has been made that a tax is due and owing, through audit, assessment or other bill sent, the tax must be paid within the time frame otherwise indicated.

(1)

Interest. The city hereby provides for the amount of interest to be assessed on a late payment, underpayment, or nonpayment of the tax to be ten (10) percent per annum, based on a year of three hundred sixty-five (365) days and the number of days elapsed.

(2)

Late filing and payment penalties.

a.

If a tax return is not filed within the time and manner provided by the controlling tax ordinance, a late filing penalty of five (5) percent of the amount of tax required to be shown as due on a return shall be imposed.

b.

If a payment is not made within the time and manner provided by the controlling tax ordinance, a late payment penalty of five (5) percent of the amount of the tax due shall be imposed.

(Ord. No. 10-2001, § 11, 1-16-2000; Ord. No. 15-2006, § 1, 3-21-2006)