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AN ORDINANCE TO AMEND THE CODE OF THE CITY OF PORTSMOUT~, VIRGINIA, 1973, BY AMENDING SECTIONS 35-2 AND 35-3 PER- TA!NING TO PENALTIES FOR NONPAYMENT OF REAL ESTATE AND PERSONAL PROPERTY TAX. BE IT ORDAINED by the Council of ~he City of Portsmouth, Virginia, that Sections 35-2 and 35-3 of the Code of the City of Portsmouth, Virginia, 1973, be amended and re- ordained to read as follows: Section 35-2. Date real estate tax payable, penalty for nonpayment; deferment of payment. (a) City taxes on real estate for each fiscal-year shall be due and payable during the year for which the same are. assessed in four (4) equal installments, as follows: One-fourth (1/4) thereof on September thirtieth, one,fourth [1/4) thereof on December thirty-firstl one-fourth (1/4) thereof on March thirty-first and one-fourth (1/4) thereof on June fifth of such year. (b) In the event any installment of taxes on real estate is not paid on or before the time the same is due and payable, as provided~ in subsection (a) of this section, there shall be added thereto a penalty of ten (10) per cent of the amount of such unpaid installment, o~ ten ($tO.00) dollars, whichever is greater, and such installme~t shall bear interest at the rate of one fl) percent per month, or fraction thereof, from the first day of the month follow- ing the date the same is due 'and payable until paid. If any installment of taxes on real es%ate is not paid before the property is advertised or pos%ed as delinquent, an expense charge of twenty-five cents ($0.25) for each install~ent on each parcel assessed shall be collected. (c) Notwithstanding subsection (a) of thi~ section,' city taxes on real estate payable by persons qualifying as elderly people for the exemption of real estate taxes provided in Article XIII of this chapter, shall be due and payable for each fiscal year hereafter during the year for which the same are assessed in four (4) equal install- ments; as follows: One-fourtk ~1/4) thereof on October J~fth, one-fourth fl/4} thereof on January fifth, one-fourth (1/4) thereof on April fifth and one'fourth (t/4~ thereof on June fifth ' of each year.