§ 2-8-21. Nonpayment of taxes.

G.S. 105-360 is amended by adding a new subsection (e) to read as follows:

"(e) For county and municipal taxes due under this subchapter on September 1, 1978, the following interest rates shall apply. If paid:

(1)

On or after the due date and before the fourth day of March thereafter, taxes shall be paid at par or face amount.

(2)

On or after the fourth day of March following the due date and before the first day of April thereafter, there shall be added to the taxes interest at the rate of two (2) percent.

(3)

On or after the first day of April following the due date and before the first day of June thereafter, there shall be added to the taxes, in addition to the two (2) percent provided in subdivision (e)(2), above, interest at the rate of one and one-half (1½) percent per month, or fraction thereof.

(4)

On or after the first day of June following the due date, there shall be added to the taxes, in addition to the two (2) percent and the one and one-half (1½) percent provided in subdivisions (e)(2) and (3), above, interest at the rate of three-fourths (¾) of one percent per month, or fraction thereof, until the taxes plus penalties and interest have been paid."

(S.L. 1979, C. 439, § 1)