The taxes and public sewer system user fees imposed by this subtitle or public sewer system user fee imposed by Title 19, section 1534, Virgin Islands Code shall be due and payable on June 30th of each year. Such taxes and public sewer system user fees shall become delinquent if not paid by August 30th of each year, unless the Lieutenant Governor, or his authorized representative, has arranged a quarterly installment schedule or any other method of collection, such as payroll deduction, which by regulation, the Lieutenant Governor may prescribe for the payment of the outstanding taxes. The Lieutenant Governor may waive all penalties and interest. The Lieutenant Governor shall collect an additional sum of one percent of the amount due for each month or fraction thereof for which the taxes and public sewer system user fees are delinquent not to exceed 25 percent of the amount due. Notwithstanding the provisions of this section, whenever the issuance of property tax assessments is delayed, the Governor may, by Executive Order, extend the time for payment, the date of delinquency, and the date for the appeal, in order to afford equitable treatment for taxpayers receiving delayed assessments.