§ 18-164. Same—Interest.  


Latest version.
  • If the amount of tax due by the dealer is not paid on or before the twentieth (20th) day of the month next following the month which the tax is due, there shall be collected, with said tax, interest upon said unpaid amount, at a rate of one and one quarter (1¼) percent per month or fractional part thereof, to be computed from the first day of the month next following the month for which the tax is due until it is paid; and in addition to the interest that may be so due there shall also be collected a penalty equivalent to five (5) percent for each thirty (30) days, or fraction thereof, of delinquency, not to exceed twenty-five (25) percent in the aggregate, of the tax due, when such tax is not paid within thirty (30) days of the date the tax becomes due and payable, and in the event of suit, attorney's fees at the rate of thirty-three and one-third (33 1/3 ) percent of the aggregate of tax, interest and penalty, or fifty dollars ($50.00), whichever is greater.

(Ord. No. 8-1992-1, § 9.04, 8-10-92)