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Section 35-3. Date personal property tax payable; <br /> penalty for nonpayment. <br /> <br /> (a) City taxes on personal property and machinery and <br />tools shall be paid on or before the thirtieth day of June <br />of the year in which such taxes are assessed and shall bear <br />interest at the rate of one el) percent per month or fraction <br />thereof from the first day of the month following the date <br />the same is due and payable until paid. <br /> <br /> (b) City taxes on personal property and machinery and <br />tools of public service companies which are assessed by the <br />State Corporation Commission shall be paid on or before the <br />fifth day of December of the year in which such taxes are <br />assessed and shall bear interest at the rate of one.el) per <br />cent per month or fraction thereof from %he first day of <br />month following the date the same is due and payable until <br />paid. <br /> <br /> (c) In the event any taxes on personal property or <br />machinery are not paid on or before %he time the same are <br />due and payable there shall be added ~hereto a penat%y of <br />ten CiO) percent of such unpaid taxes or ten ($10.00) dollars <br />whichever is greater. <br /> <br /> Adopted by the Council of the City of Portsmoutk, Virginia, <br />at a meeting held October 13, 1981. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />