Sponsor
Alderman Shakoor
Title
Ordinance No. 10-11
To repeal and recreate Sections 90-26 and 90-27 of the Municipal Code of the City of Racine, Wisconsin relating to Taxation:
The Common Council of the City of Racine do ordain as follows:
Part 1:
Section 90-26 is repealed and recreated to read as follows:
"Sec. 90-26. - Due date; installment tax payments.
(a) All taxes upon real estate in the city due and payable on or before July 31, 2012 shall be paid on or before January 31 of each year, except that where the tax on a particular parcel amounts to $100.00 or more, it may be paid in four equal installments, each of which shall become successively due and payable on or before January 31, March 31, May 31 and July 31. On any installment date, the taxpayer may pay the balance of the tax due.
(b) Effective for all payments upon real estate taxes due on or after August 1, 2012, all taxes upon real estate in the city shall be paid on or before January 31 of each year, except that where the tax on a particular parcel amounts to $100.00 or more, it may be paid in two equal installments, each of which shall become successively due and payable on or before January 31 and July 31.
Part 2:
Sec. 90-27 is repealed and recreated to read as follows:
"Sec. 90-27 - Delinquent installlments, interests & penalty.
(a) When the first installment of the real estate taxes is not paid on or before January 31, the whole amount of such real estate taxes shall become delinquent as of February 1. All such taxes remaining unpaid on February 1 shall be collected by the city treasurer with interest at the rate of one percent per month or fraction thereof, and penalty of 0.5 percent per month or fraction thereof from February 1.
(b) For all taxes upon real estate in the city due and payable on or before July 31, 2012, if the second or any subsequent installment payment of real property taxes is not paid by the due date specified, the entire amount of the remaining unpaid taxes on that parcel is delinquent on the first day of the month after the payment is due. Such taxes shall be collected together with interest of one percent per month or fraction thereof and penalty of 0.5 percent per month or fraction thereof from February 1.
(c) Effective for all payments upon real estate taxes due on or after August 1, 2012, if the second installment payment of real property taxes is not paid on or before July 31, the entire amount of the remaining unpaid taxes on that parcel is delinquent on August 1. Such taxes shall be collected together with interest of one percent per month or fraction thereof and penalty of 0.5 percent per month or fraction thereof from February 1."
Part 3:
This ordinance shall take effect upon passage and the day after publication.
Fiscal Note: N/A
Passed by the Common Council:
Approved:
Mayor
Attest:
City Clerk