The Director of Financial and Management Services or designate for good cause shown may extend the time for making and filing any application or return as required under this chapter and may grant such reasonable additional time within which to file such returns or applications as he or she may deem proper; provided, that any extensions in excess of thirty days shall be conditioned upon payment of interest of one-half of one percent for each thirty days or portion thereof on the amount of the tax or fee from the date upon which said tax or fee became due. If payment of any tax or fee due under this chapter is not received by the Director of Financial and Management Services by the last day of the month in which such fee or tax becomes due, there shall be added to such tax or fee a penalty of ten (10%) percent of the amount of the tax or fee, but in no case shall the penalty be less than twenty-five ($25) dollars. The Director of Financial and Management Services shall notify the taxpayer by mail of the amount of any penalties so added or assessed and the same shall become due and shall be paid within sixteen days from the date of such notice. The Director of Financial and Management Services is authorized, but not obligated, to waive all or a portion of the penalties provided herein in the event that the Director determines that the late payment was the result of excusable neglect. (Ord. M-1998 § 2, 1979: Ord. M-377, 1957: Ord. M-203 § 14, 1954; Ord. M-3774, Amended, 11/27/2006, Sec 6-Effective 01/01/2007)