§ 16-4. Same—Installments.

(a)

Ad valorem taxes in the city on tangible property, other than motor vehicles, shall be due and payable in installments on September first and December twentieth or as provided by state law of each calendar year.

(b)

For the purposes of subsection (a) above, taxes due and payable in installments on such property shall be as follows:

(1)

Sixty (60) percent of the taxes levied on the property for the preceding tax year or sixty (60) percent of the taxes based on the preliminary digest, if available, shall be due and payable at the time of the first installment and the remaining taxes shall be due and payable at the time of the final installment.

(2)

Those taxes due on the final installment, which shall be not later than December twentieth or as provided by state law of each year, shall be the total taxes due on the property for the current year after credit has been given for tax payments made in accordance with subsection (1) above.

(3)

Nothing contained in this section shall be construed to impose any liability for the payment of any ad valorem taxes upon any person for property which was not owned on the first day of January of the applicable tax year.

(c)

Taxes not paid when due under any installment required by this section shall bear interest at the rate of one (1) percent per month from the date the tax is due until the date the tax is paid. For the purpose of this subsection any period of less than one (1) month shall be considered to be one (1) month. Such one (1) percent rate is based upon provisions of O.C.G.A. § 91A-239.2, and shall automatically be revised as such section may be amended; however, in no event shall the interest provided by this subsection be less than the maximum rate allowed by any provision of the general laws of the state. An installment shall become delinquent and subject to the interest provided by this subsection on the day following its appropriate due date.

(d)

All taxes which are delinquent on the day following the final installment due date of December twentieth or as provided by state law shall be subject to a penalty of five (5) percent of the principal amount thereof. Such penalty shall be in addition to any interest provided by this section on delinquent taxes.

(Ord. No. 0-80-55, §§ 1—4, 12-16-80)

State law reference

Penalty for overdue installment payments, O.C.G.A. § 48-5-23.