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HOW IS INTEREST FIGURED?

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HOW IS INTEREST FIGURED?

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If not paid by the August or February deadline, interest is charged at 1½% per month from July 1st and January 1st respectively, with a minimum of $2.00 ($4.00 if in the district also) per bill. EXAMPLE: To figure interest due – payment made in August use 3%, September use 4½%, October use 6% etc.

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