Assessments on Delinquent Taxes

• Penalty: 15% of total delinquency

  • The Code allows for abatement of penalty
  • Taxpayer must show good cause

• Interest: 18% of total delinquency

  • The Code does not allow for abatement of interest
  • 18% is significantly above most market interest rates

• Penalty and Interest Charges are set forth in Section 5-2-8 of the Code