§ 160A-232. Payment of assessments in cash or by installments. - North Carolina Statutes

§ 160A‑232. Payment of assessments in cash or by installments.

The owners of assessed property shall have the option, within 30 daysafter the publication of the notice that the assessment roll has beenconfirmed, of paying the assessment either in cash or in not more than 10annual installments, as may have been determined by the council in theresolution directing the project giving rise to the assessment to beundertaken. With respect to payment by installment, the council may provide

(1)        That the first installment with interest shall become dueand payable on the date when property taxes are due and payable, and onesubsequent installment and interest shall be due and payable on the same datein each successive year until the assessment is paid in full, or

(2)        That the first installment with interest shall become dueand payable 60 days after the date that the assessment roll is confirmed, andone subsequent installment and interest shall be due and payable on the sameday of the month in each successive year until the assessment is paid in full. (1915, c. 56, s. 10; C.S., s. 2716; 1971, c. 698, s.1.)