48 U.S.C. § 1401b : US Code - Section 1401B: Rate of tax in absence of local laws; regulations by President for assessment and collection pending adoption of local laws

Search 48 U.S.C. § 1401b : US Code - Section 1401B: Rate of tax in absence of local laws; regulations by President for assessment and collection pending adoption of local laws

Until local tax laws conforming to the requirements of sections
1401 to 1401e of this title are in effect in a municipality the tax
on real property in such municipality for any calendar year shall
be at the rate of 1.25 per centum of the assessed value. If the
legislative authority of a municipality failed to enact laws for
the levy, assessment, collection, or enforcement of any tax imposed
under authority of said sections, within three months after May 26,
1936, the President shall prescribe regulations for the levy,
assessment, collection, and enforcement of such tax, which shall be
in effect until the legislative authority of such municipality
shall make regulations for such purposes.