Interest of 12.35 percent per annum compounding daily is charged on overdue rates and charges. We choose to impose the maximum interest rate allowed on overdue rates and charges in an effort to encourage both on time payments and for those experiencing financial hardship to enter and maintain agreeable payment plans to pay down their overdue rates.
As a guide, if $1,000 was overdue and attracted interest for 30 days, $10.20 worth of interest apply.