Sec. 10-201. Date taxes payable; overdue; penalty

In addition thereto, there is imposed a penalty for failure to make payment on or before October 1 of each year. Such penalty shall be one percent (1%) of the amount of taxes overdue and in arrears for each month or fraction thereof until paid. This Section shall apply to all such taxes based upon assessments made by either the State Department of Assessments and Taxation or any other authority, and applies to taxes upon tangible personal property by whomsoever assessed and subject to taxation in the County.