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

10/01/2011Current0.25%3%
4/1/201109/30/20110.3333%4%
1/1/20113/31/20110.25%3%
4/1/200912/31/20100.3333%4%
1/1/20093/31/20090.4166%5%
10/1/200812/31/20080.50%6%
7/1/20089/30/20080.4166%5%
4/1/20086/30/20080.50%6%
1/1/20083/31/20080.58%7%
7/1/200612/31/2007 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%