Tax Type
Property Tax
Description
Applicability
Topic
Penalties and Interest
Date Issued
05-24-1973
Ch. 410, Laws 1973, which increased from 6% to 8% the annual rate of interest imposed on taxes due December 5 but unpaid by June 30 (and taxes due August 15 but unpaid by February 15), became effective on June 1, 1973. The higher rate applies to interest penalties assessed after May, 1973, regardless of the year for which the tax itself was assessed. These penalty provisions cover only State and local taxes which generally become due on December 5; therefore, the provisions do not apply to the income tax.
Attorney General's Opinion