250.1. The local municipality may order that a penalty be added to the amount of exigible municipal taxes.
The penalty shall not exceed .5 % of the outstanding principal for every whole month following the expiry, up to 5 % per annum. For the purposes of this paragraph, the date of expiry is the day on which the tax becomes payable or on which the penalty is imposed, whichever comes later.
1988, c. 76, s. 69; 1989, c. 68, s. 4; 1991, c. 32, s. 134.