Taxes - Penalty and Interest Charges
A penalty of 1.25 percent is added to current tax arrears on the first day of default and again on the first day of each month thereafter until the end of the year. Interest is added to prior year(s) tax arrears on the first day of the month calculated at 1.25 percent of the previous month's ending balance. Payment is applied to penalty and interest charges first and then to taxes beginning with the oldest year first.