Sec. 2-102. Penalties.[54]
Any person failing to pay taxes on personal property,
machinery and tools, and merchant's capital on or before the fifth
day of December shall incur a penalty thereon of five percentum,
which shall be added to the amount due from such taxpayer.
Likewise any person failing to pay that portion of the taxes on
real estate due on or before the fifth day of June and the fifth day
of December respectively shall incur penalties thereon of five
percent of the amount of tax respectively becoming payable on
such dates; provided, however that for the taxable year 1974, and
only for such year, the portion of taxes on real estate due in June
of such year shall be payable on or before the fifteenth day of
June, and such penalty shall be incurred only on those taxes
which have not been paid as of such date. Such taxes and
penalties, when collected by the treasurer, shall be accounted for
in his settlements.
Should such taxes and penalties remain uncollected, there shall
be collected interest at the rate of eight percentum upon both
principal sum and penalties. Such interest shall commence from
the thirtieth day of June next following with regard to taxes
payable December fifth, and from the thirty-first day of
December next following with regard to taxes payable June fifth.
All such penalties and interest shall be collected and accounted
for by the treasurer along with the principal of such taxes. (Code
1959, § 2-102; 11-14-73, § 1; 5-9-74, § 1.)
