Taxes levied pursuant to State Tax-Property Article §§ <cite data-doc="Md. Code" data-path="gtp|10-103">10-103</cite>, <cite data-doc="Md. Code" data-path="gtp|14-604">14-604</cite>, and <cite data-doc="Md. Code" data-path="gtp|14-702">14-702</cite>, on any real property completed during the period after October 1 in any year and through January 1 in the next succeeding year shall be computed by using the assessed valuation of the property at ½ the current annual tax rate. Taxes imposed for these 6 months shall be due and payable as of the specified day of January 1 or as of the day a tax bill therefor was or reasonably should have been received or made available, whichever is the later date. All such bills shall be overdue and in arrears on the next succeeding April 1 or 30 days after the bill for the taxes has been mailed or made available, whichever is the later date, and shall bear, until paid:interest at the rate of 1% for each month and fraction thereof; and penalty at the rate of 1% for each month and fraction thereof. In all instances of escaped or omitted property, the penalties and interest herein provided shall be added to the bill for the current year and back years in the same manner as if such property had not escaped or been omitted. The penalties and interest provided for shall be added to the bill for taxes itself and collected by the Director of Finance in the same manner as taxes are collected. City Code, 1966, art. 28, §43 1976/83, art. 28, §14 Ord. 65-714 Ord. 83-929