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AGO Opinions with Topic: COMPUTATION OF PENALTY INTEREST RATE TO BE ASSESSED UPON PAYMENT OF DELINQUENT REAL PROPERTY TAXES
AGO 1972 No. 8 >  March 1, 1972
TAXATION - REAL PROPERTY - INTEREST RATE - COMPUTATION OF PENALTY INTEREST RATE TO BE ASSESSED UPON PAYMENT OF DELINQUENT REAL PROPERTY TAXES
TAXATION ‑- REAL PROPERTY ‑- INTEREST RATE ‑- COMPUTATION OF PENALTY INTEREST RATE TO BE ASSESSED UPON PAYMENT OF DELINQUENT REAL PROPERTY TAXES (1) The reduction in the interest rate from ten percent to five percent per annum on not more than five hundred dollars of delinquent real property taxes "for a single year," as provided for by § 3, chapter 288, Laws of 1971, 1st Ex. Sess., applies only to the first year of delinquency rather than to each year in which the subject taxes may have been delinquent.(2) The five percent interest rate thus provided for by § 3, chapter 288, Laws of 1971, 1st Ex. Sess., is to be applied against not more than five hundred dollars of the combined total amount of all delinquent taxes which have been imposed for a single year on all real property owned by the same taxpayer in a given county.
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