Laserfiche WebLink
AN ORDINANCE TO AMEND THE CODE OF THE CITY OF PORTSMOUTH, <br />VIRGINIA, 1988, BY AMENDING SECTION 35-4 THEREOF, PERTAINING <br />TO INTEREST ON DELINQUENCIES. <br /> <br /> BE IT ORDAINED by the Council of the City of Portsmouth, <br />Virginia: <br /> <br /> 1. That Section 35-4 of the Code of the City of <br />Portsmouth, Virginia, 1988, be amended and reordained <br />as follows: <br /> <br />to read <br /> <br />Section 35-4. Interest on delinquencies. <br /> <br /> Any person failing to pay any taxes on real estate, <br />tangible personal property, machinery and tools or other taxes <br />due to the City shall incur, in addition to a penalty thereon, <br />interest on that amount of taxes which is due, plus interest <br />on any penalty assessed. IntereSt at the rate of ten percent <br />(10%) per annum from the first day following the day such <br />taxes are due and said penaly is assessed shall be collected <br />upon the principal and penalties of all taxes and levies then <br />remaining unpaid, and shall continue to accrue and be due <br />until such time that said taxes and penalty are paid in full. <br /> <br />2. This ordinance shall take effect July 1, 1990. <br /> <br /> Adopted by the Council of the City of Portsmouth, <br />Virginia, at a meeting held May 15, 1990. <br /> <br />Te s te: <br /> <br />City Clerk <br /> <br /> <br />