§ 66-189. Interest and penalties.

Latest version.

In the event of the failure of any person or entity to pay to the director of finance the tax required by this article when the tax shall be due, interest shall accumulate and be due upon the tax at the rate of one percent per month commencing as of the first day following the day when the deed was recorded or the trust document was accepted by the trustee. In addition, a penalty of 50 percent of the tax and interest due shall be assessed and collected against any person or entity who fails to pay the tax imposed by this article.

(Code 1968, § 23-54; Code 1996, § 66-189)

                    
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