Tennessee Code 7-33-313 – Levy of assessments – Time for payment – Installments – Delinquency
Terms Used In Tennessee Code 7-33-313
- Governing body: means the board or body in which the general legislative powers of a municipality are vested. See Tennessee Code 7-33-301
- Improvement: means the construction, installation or substantial reconstruction of sanitary sewers. See Tennessee Code 7-33-301
- Improvement assessment: means an assessment made each year against benefited property to pay the costs of an improvement, in the proportion that the assessed value of each parcel or lot of benefited property bears to the total assessed value of all benefited property according to the latest assessments of such property for purposes of municipal property taxation or as provided by this part. See Tennessee Code 7-33-301
- Property: includes both personal and real property. See Tennessee Code 1-3-105
Annual improvement assessments for each improvement shall be made by the governing body when the levy of municipal property taxes is made; and such improvement assessments shall be due at the same time, or times, the municipal property taxes are due, and shall be subject to the same penalties and accrual of interest in the event of nonpayment as in the case of municipal property taxes. The governing body may permit owners of benefited property to pay improvement assessments in equal monthly installments, the first installment to be due and payable when the improvement assessment is due; in this event any monthly payment shall be delinquent thirty (30) days after it is due and payable, and the whole balance of the annual improvement assessment shall then become delinquent and be subject to all penalties and interest as provided in this part.