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% |
| 7/1/208 | 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% |
