The interest rate is set by statute and varies according to the market rates in the economy. The current interest rate is 12 percent. It has been 12 percent for 1998, 1999, and 2001. For the year 2000, the rate was 11 percent. The interest rate is subject to being changed at six-month intervals.
An advertising fee is also added to delinquent real estate taxes. By law, if current-year taxes are unpaid as of a date in July, the specifics of that parcel must be published in a paper of general circulation for three consecutive weeks preceding the first Tuesday in September. Once that parcel is listed in the paper, an advertising fee of $16 is to be added to the taxes subject to being collected.