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07-19-2016, 03:15 AM
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Registered User
Join Date: Oct 2015
Posts: 440
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What are the penalty and interest rates if I do not pay my property taxes timely?
The penalty rate is 10% of the principal balance owing at the time the due date has passed on each unpaid installment.The interest rate charged is 2% above the prime rate as of April 15th of each year. The interest rate is multiplied by the unpaid principal balance and charges accrue monthly.
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