Section 3
SEC. 3. In the event that no taxes shall have been paid upon assessment or valuation of any real property so reduced as provided in section one hereof, the taxpayer concerned shall be allowed sixty days from and after the date of the notice of such reduction, which notice shall be served as provided in section four hereof, in which to pay such taxes without penalty. In case of failure to so pay such taxes, then and in that case all the penalties by law provided shall attach as of the date upon which the taxes became due and payable on the assessment appealed from and so reduced.