Is there a penalty for late payment?

Posted by Becca Graham on

If taxes are not paid by the due date, interest will begin to accrue the day following the due date and will continue on the principal amount each month thereafter until the bill is paid in full. Additionally, penalty will accrue at 5% after 120 days with an additional 5% assessed after each successive 120 days to a maximum of 20% of the principal amount due.