1. After the passage or adoption of the resolution assessing the assessments, the city or county clerk shall mail a notice to each property owner within the district which sets forth a description of each parcel of real property to be assessed which is owned by such owner, the special assessment assigned to such property, and a statement that the property owner may pay such assessment in full, together with interest accrued thereon, from the effective date of such resolution, on or before a specified date determined by the effective date of the resolution, or may pay such assessment in annual installments as provided in subsection 2 of this section.

2. The assessments shall be assessed upon the property included therein concurrent with general property taxes, and shall be payable in substantially equal annual installments for a duration stated in the ballot measure prescribed in subsection 2 of section 249.929, and, if authorized, an assessment in each year thereafter levied and collected in the same manner with the proceeds thereof used solely for maintenance of the improvement, taking into account such assessments and interest thereon, as the governing body of the city or county determines. The first installment shall be payable after the first collection of general property taxes following the adoption of the assessment resolution, unless such resolution was adopted and certified too late to permit its collection at such time. All assessments shall bear interest at such rate as the governing body determines, not to exceed the rate permitted for bonds by section 108.170. Interest on the assessment between the effective date of the resolution assessing the assessment and the date the first installment is payable shall be added to the first installment. The interest for one year on all unpaid installments shall be added to each subsequent installment until paid.

3. Assessments shall be collected and paid over to the city or county treasurer in the same manner as taxes of the city or county are collected and paid.