The taxpayer may, on or before the date when the first half of property taxes is due, elect to pay in annual installments the amount of the special survey assessment in either five (5) or ten (10) years, without interest, or pay the same in full, as other property taxes, within the year. If the taxpayer elects to pay in installments, the tax collector shall collect the amount due in accordance with such election and credit each payment to the special assessment portion of the tax bill and after each installment show the balance of the assessment. Thereafter, the unpaid balance and the annual installment shall not be construed as preventing the owner of land subject to the assessment from paying the unpaid balance at any time. All special assessment collections shall be credited to the Land Survey Fund.

SOURCE: GC § 13976.