Show GNES TAX information for the information of taxpayers who may not be familiar with the law relative to penalties interest and costs which must be collected on delinquent taxes the following brief explanation may be of value on november 30 1921 taxes become delinquent after which date and before the date of sale of property to the county on the third monday in december a penalty of three per cent of the total taxes taws for tint that year must be paid after Aft erthe the sale to the county on the third monday in december the property on which taxes are delinquent is enterer i in it a tax sale record recard showing the ordinal tax penalty and the cost of sale and the total of these three amounts draws interest at tle the rate of one per cent a in month 12 12 per cent a year from that date until redeemed As an illustration if john doe has property upon which taxes to the amount of 10 has been levied by iron county for the current year aud and mr doe fails to pay the taxes levied until one year after they become delinquent the cost to redeem his property from tax sale would be as follows original tax 1921 IOCO 1000 three per percent cent penalty 30 cost of sale to county 50 total tax penalty and cost of sale 1080 interest for 12 months at 1 per percent cent a month coltof redemption certificate so total cost to redeem interest computed to dec interest and costs for ono one year then on a 1 1000 tax have amount ed to or more than 25 per cent of the ordinal tax the tax payer had macli mach better borrow the money at 10 percent or 12 per cent a year and pay the taxes than allow them to become delinquent of course the costs on larger amounts do not increase proportionately but the penalty and interest do and it is impossible to get by with a tax sale redemption on any amount for less than 15 per cent for the first year while money from the bank to pay the ordinal tax woula woul not cost more than 10 per cent this brief explanation has been given that tax pa ers might understand that interest and costs on delinquent taxes are very high and its publication is prompted by rumors that a lot of tax payers are going to let their taxes become delinquent thinking that only a per cent penalty is all it will cost them V W CLAIR ROWLEY iron county treasurer |