Interest Rates

Interest on Unpaid Tax Balances/Refunds

Interest on unpaid tax balances accruing through the end of September 2005 is charged at 1% per month. Beginning October 2005, the City’s interest rate is the variable interest rate charged by the state on transaction privilege sales tax (TPT) balances. City interest is charged on a monthly basis (the annual rate divided by 12). For example, an annual rate of 7% divided by 12 is a monthly interest rate of 0.5833%.

 

Tax Delinquent as of:

Tax Delinquent thru:

Monthly Interest Rate

Annual Interest Rate

10/01/2011 Current 0.25% 3%
4/1/2011 09/30/2011 0.3333% 4%
1/1/2011 3/31/2011 0.25% 3%
4/1/2009 12/31/2010 0.3333% 4%
1/1/2009 3/31/2009 0.4166% 5%
10/1/2008 12/31/2008 0.50% 6%
7/1/2008 9/30/2008 0.4166% 5%
4/1/2008 6/30/2008 0.50% 6%
1/1/2008 3/31/2008 0.58% 7%
7/1/2006 12/31/2007 0.67% 8%
10/1/2005 6/30/2006 0.58% 7%
5/1/1990 9/30/2005 1% 12%
1/1/1968 4/30/1990 1.5% 18%