Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) If rates are not paid by the due date for payment, interest accrues on the amount of the unpaid rates at the relevant interest rate.
Note for subsection (1)
If the ratepayer defaults in payment of an instalment of rates, all remaining instalments become due and payable. Therefore, interest accrues on the total amount of the unpaid rates and not merely the amount of the instalment. (See section 50(1)).
(2) Interest is calculated on a daily basis on the amount of the unpaid rates (exclusive of interest) from the due date until the date of payment.
(3) In this section:
"relevant interest rate" means the rate of interest fixed by the Darwin City Council as the relevant interest rate under section 10 of the Local Government Act 2019.