Interest and penalties on the delinquent taxes

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Reference no: EM131255221

On July 1, 2017, the beginning of its fiscal year, Ridgedale County recorded gross property tax levies of $4,200,000. The county estimated that 5 percent of the taxes levied would be uncollectible. As of April 30, 2018, the due date for all property taxes, the county had collected $3,900,000 in taxes. The county imposed penalties and interest in the amount of $14,500, but only expects to collect $12,800 of that amount. At the end of the fiscal year (June 30, 2018) the county had collected $53,000 in delinquent taxes and $4,800 in interest and penalties on the delinquent taxes

Reference no: EM131255221

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