Title
Amending Title 19 of The Philadelphia Code, entitled "Finance, Taxes and Collections," by changing the interest rate and penalty rate for unpaid taxes; and by making clarifying amendments concerning the suspension or tolling of various statutes of limitations; all under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Title 19 of The Philadelphia Code is hereby amended to read as follows:
TITLE 19. FINANCE, TAXES AND COLLECTIONS
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CHAPTER 19-500. TAXES AND RENTS -- GENERAL
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§ 19-509. Interest, Penalties and Costs.
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(2) Commencing on July 1, 1987 and terminating on December 31, 2013, if any tax authorized or imposed under this Title was not paid when due or is not paid when it becomes due, there shall be added to the amount of the unpaid tax, interest, and penalty and collected therewith:
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(3) Commencing on January 1, 2014, if any tax authorized or imposed under this Title, other than real estate taxes, was not paid when due or is not paid when it becomes due, there shall be added to the amount of the unpaid tax and collected therewith, interest and penalty, as follows:
(a) All taxes shall bear simple interest from the date they become due and payable until paid. The interest rate per annum during each calendar year shall be the sum of (i) the Federal Short-Term Rate established by the Secretary of the Treasury of the United States under the provisions of the Internal Revenue Code of 1954, 26 U.S.C.A. § 6621 et seq., effective January 1 of such calendar year without regard to any change or changes in said Federal interest rate during such calendar year, plus (ii) five (5) percentage points. The Revenue Commissioner shall publish the rate of interest for each calendar year on the Department website.
(b) All taxes shall bear a penalty at the rate of one and one-quarter percent (1 1/4%) of the amount o...
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