In case of failure to pay any assessment, or installment, on or before the date prescribed by the governing body for such payment, there shall be added to the assessment a penalty of one half of one percent (0.5%) per month of the amount of such assessment or installment.
Structure 2021 Tennessee Code
Title 7 - Consolidated Governments and Local Governmental Functions and Entities
Chapter 84 - Central Business Improvement District Act of 1971
Part 4 - Assessments and Damages
§ 7-84-401. Special Assessments
§ 7-84-402. Apportionment of Costs to Property Affected
§ 7-84-405. Assessment of Municipally-Owned Property Authorized
§ 7-84-406. Special Assessment of Municipal Property Not Otherwise Assessed
§ 7-84-408. Schedule of Property Taken or Damaged
§ 7-84-410. Hearing — Board of Review — Board Representation by Attorney
§ 7-84-415. Default in Payment of Installments
§ 7-84-416. Lien on Property Affected
§ 7-84-417. Redemption From Municipality After Foreclosure of Lien
§ 7-84-418. Penalty for Late Payment of Assessment or Installment