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<br />~ 21-1 MARTINSVILLE CODE <br /> <br />Sec. 21-128. Commissioner of the revenue to ascertain names of violators of article; <br />issuance of summons to violators. <br />Sec. 21-129. Violations. <br /> <br />ARTICLE I. IN GENERAL <br /> <br />Sec. 21-1. Tax year and tax rates. <br /> <br />The tax year for taxes levied on real estate, tangible personal property and machinery and <br />tools shall begin on the first day of January and end on the thirty-first day of December <br />following, and the tax year for all other taxes shall be fixed by the council by ordinance. The <br />rates of all taxes and levies, except on new sources of tax revenue, shall be fixed at the time <br />of adoption of the general fund budget; however, nothing in this section shall be construed in <br />such a manner as would interrupt the effect of such continuing tax ordinances as have already <br />been adopted or may hereafter be adopted by the council. <br />(Code 1971, ~ 6-5; Ord. of 12-10-74; Ord. No. 2004-1, 1-27-2004) <br />Cross reference-Fiscal and budget years, ~ 2-13. <br />State law reference-Authority for above section, Code of Virginia, ~ 58-851.6. <br /> <br />Sec. 21-2. Due dates for taxes on real estate, tangible personal property and <br />machinery and tools. <br /> <br />Payment of annual taxes on real estate, tangible personal property and machinery and tools <br />shall be as follows: <br /> <br />(1) One-half of the annual taxes on real estate shall be paid on or before December 5 of <br />each tax year and the remaining one-half of such taxes shall be paid on or before June <br />5 of each tax year. <br /> <br />(2) The annual taxes on tangible personal property and machinery and tools shall be paid <br />on or before December 5 of each tax year. <br />State law reference-Authority for above section, Code of Virginia, ~ 58-847. <br /> <br />Sec. 21-3. Penalty and interest on delinquent taxes on real estate, tangible personal <br />property and machinery and tools. <br /> <br />(a) The penalty for the failure to pay taxes on real estate, tangible personal property and <br />machinery and tools on or before the date or dates when the same are due shall be ten (10) <br />percent of the tax past due, or the sum of ten dollars ($10.00), whichever is greater, except, <br />however, that the penalty shall not exceed the amount of the tax when the tax is less than ten <br />dollars ($10.00). Such penalty shall be assessed on the day after any such tax or installment <br />thereof is due and, when so assessed, shall become a part of the tax. <br /> <br />Supp. No. 62 <br /> <br />1250 <br />