Late interest begins on October 1st for the first half and April 1st for the second half payments. Interest accrues on the first day of each month if a tax payment is not paid before the due date. The interest accrues at the rate of 1.5% per month (rounded to the nearest dollar) with a minimum of one dollar. Late interest is added to the unpaid balance of your property taxes.
When the last day of the month is a Saturday, Sunday, or a holiday, the deadline for remitting tax payments without late interest or additional late interest for delinquent installments is extended to include the first business day of the following month.
Taxes that remain unpaid could be subject to tax sale. Once the taxes are sold at tax sale, they are paid by another party. A tax lien is then placed on the property and if it is not redeemed within the time specified by Iowa law, the tax sale certificate holder may initiate proceedings to obtain a tax deed on the property.
If you are mailing your tax payment it is very important that it is at the post office in time for a proper 30th or 31st postmark, which is acceptable.