[Adopted 10-14-1980]
[Amended 11-13-1990]
Any person failing to pay the City levies on
or before the fifth day of December shall incur a penalty of 10%,
which shall be added to the amount of taxes or levies due from such
taxpayer, which when collected by the Director of Finance shall be
accounted for in his settlements. A penalty shall, in no case, exceed
the amount of the tax due or the amount of tax assessable.
An interest rate, equal to the maximum allowed
by state law, which for the year of 1980 is 10% per annum, shall be
applied to all delinquent taxes. Interest will commence on the first
day of the month following the month in which such taxes are due.
[Amended 11-13-1990]
The statutory authority for this Article is
set forth in § 58.1-3916, Code of Virginia.
