Tax Delinquency

All taxes unpaid or postmarked after November 30 of each year following the date of levy, are delinquent (unless November 30 falls on a weekend, then the delinquent date would be the first business day following November 30).  For each parcel, all delinquent taxes are subject to a penalty of 2.5% or $10.00 whichever is greater.  The penalty will be reduced to the greater of 1% or $10.00 if all delinquent taxes and the 1% penalty are paid on or before January 31.  If tax and penalty are not paid by January 31, the amount of taxes and penalty shall bear interest at the rate of 6% over the “Federal Discount Rate” that exists on January 1 following the date of delinquency.  Interest will also be calculated retroactive to January 1.  According to State statute, interest must be at least 7% but not more than 10%.