Section 6-22-112 - Delinquency penalties - Discount for early payment(a) On December 1 of the year for which the taxes are assessed, or other date provided by ordinance, a penalty of two percent (2%) upon all taxes remaining unpaid shall be imposed and collected by the city and paid into the city treasury. An additional penalty of two percent (2%) shall be added for each month thereafter for twelve (12) months.(b) If any taxpayer elects to pay such taxpayer's taxes prior to October 1, that taxpayer shall be entitled to a discount of two percent (2%) from the amount of the taxpayer's bill.Acts 1921, ch. 173, art. 10, § 7; Shan. Supp., § 1997a177; Code 1932, § 3574; T.C.A. (orig. ed.), § 6-2213.