Local Government Interest Rates on Taxes in Arrears or Delinquent

These rates are established under Section 11(3) of the Taxation (Rural Area) Act. The rates are also applicable to Sections 412 and 417 of the Local Government Act and Section 245, 246 and 254 of the Community Charter. These rates are calculated by adding three percent to the prime lending rate (as of the 15th of the month preceding the effective date) of the principal banker to the Province.