(1)When building tax [or luxury tax] [Substituted 'building tax' by the Kerala Finance Act, 1999 (Act 23 of 1999), (w.e.f. 01 /04/1999).] is not paid on the due date, the arrears of the tax shall bear interest at the rate of six per cent per annum from the date of default.(2)The arrears of building tax [or luxury tax] [Substituted 'building tax' by the Kerala Finance Act, 1999 (Act 23 of 1999), (w.e.f. 01 /04/1999).] and the interest, if any, thereon shall be a first charge on the building in respect of which it is payable, and notwithstanding anything contained in any other law, the claim for such arrears and interest shall have precedence over the claim for any tax levied by a local authority, and such amount shall be recoverable under the law for the time being in force relating to the recovery of arrears of public revenue due on land.
