Yes. In accordance with O.C.G.A. 48-2-40-44, delinquent taxes are charged interest at an annual rate equal to the bank prime loan rate as posted by the Board of Governors of the Federal Reserve System or any publication that may supersede it, plus 3 percent, to accrue monthly. Once taxes are 120 days late, a 5% penalty is added to all bills, except for Homestead property less than $500.00. The penalty will continue to accrue at 5% each additional 120 days up to a maximum of 20% of the principle amount due.