Vermont § 702 - Penalty; interest; Treasurer’s powers

§ 702. Penalty; interest; Treasurer’s powers

• (a) Penalty. Any installment not paid by the due dates established in section 701 of this charter
  shall be delinquent and there shall immediately be added to the amount due a penalty
  charge for late payment equivalent to five percent of the delinquent installment.
  If, after the expiration of 30 days from the due date of each installment the installment
  remains unpaid, an additional three percent penalty shall be added to the amount due.
  All such charges, fees, interest, and other additional amounts shall be cumulative
  and accrue at the times and in the manner herein specified. (b) Interest. An additional interest charge in the amount of one percent of the unpaid tax per month
  or fraction thereof shall be added to any tax not paid on or before the dates specified
  in section 701 of this charter for the first three months and thereafter one and one-half
  percent per month or fraction thereof, from the due date of such tax. Until such time
  as said tax is paid in full, such interest shall be imposed on a fraction of a month
  as if it were an entire month. (c) Treasurer’s powers. The Treasurer shall have all the powers that treasurers of towns have under the general
  law of the State, including the power to bring actions of law, conduct tax sales,
  and bring petitions for foreclosure of tax liens. Such acts shall be done in the name
  of the Town of Colchester and in the manner provided in general law, except as modified
  by any provision of this charter. (Amended 2015, No. M-1, § 2, eff. Jan. 27, 2015.)