Section 12
SEC. 12. The first and second paragraphs of section sixty- two of commonwealth Act Numbered Fifty-eight are hereby amended to read as follows: "SEC. 62. Annual tax and penalties—Extension, remission of the payment of the tax.—An annual tax of seven-eighths of one per centum on the assessed value of all real estate in the city subject to taxation as hereinbefore provided is hereby levied. All taxes shall be due and payable on the first day of January of each year, and if any taxpayer shall fair to pay the taxes assessed against him on or before the thirtieth day of June of the year for which such taxes are due, he shall be delinquent in such payment and shall be subject, as a penalty for such delinquency, to an additional tax of twenty per centum of the amount of the original tax if both the original and the additional tax be paid during the first six months of such delinquency, and if not so paid, to an additional tax of twenty-five per centum, of the amount of the original tax; the additional tax to be collected at the same time and in the same manner as the original tax. "At the option of the taxpayer, the tax due for any year may be paid in two installments, the first of such installments to consist of four-eighths of one per centum of the assessed valuation of the property and the second to consist of the remainder of the tax for the year. In such cases the first installment must be paid on or before the thirtieth day of June of the year for which the tax is due, and the second may be paid at any time prior to the first day of January of the following year, but if the first installment of the tax for any year is not paid on or before the thirtieth day of June of such year, then the whole of that year's tax shall be delinquent and the penalty due thereon as hereinbefore provided. If any taxpayer having paid the first installment of his tax for any year, shall fail to pay the second installment thereof before the first day of January of the following year, the penalty collected shall be twenty per centum of the amount of such second installment during the first six months of said following year, and thereafter twenty-five per centum of such amount."