36Effect of deferral

36 Effect of deferral

36 Effect of deferral

(1) Unpaid property tax continues to be a charge on land even if the Chief Commissioner approves deferral of payment.

(2) Interest is payable on the deferred unpaid property tax.

(3) The rate of interest is the relevant interest rate set out in section 37.

(4) Unpaid property tax, the payment of which is deferred, is payable in the next financial year or at a later time specified by the Chief Commissioner unless—

(a) a further application to defer the payment is approved by the Chief Commissioner, or

(b) the Chief Commissioner specifies a later date for payment.