If payment of any tax due is not received by the city by the last day of the month in which such tax is due, there shall be assessed a penalty of five percent of the amount of the tax. If such tax is not received by the fifteenth day of the month next succeeding the month in which such tax is due, and is therefore one month delinquent, there shall be assessed a total penalty of 10 percent of the amount of the tax. If such tax is not received by the fifteenth day of the second month next succeeding the month in which such tax is due, and is therefore two months delinquent, there shall be assessed a total penalty of 20 percent of the amount of the tax. No penalty so added shall be less than $2.00. (Ord. 1108 § 3, 1983; Ord. 814 § 13, 1976).