The locality making assessments under the provisions of this article may provide that the persons against whom the assessments have been made may pay such assessments in equal installments over a period not exceeding 20 years, together with interest on the unpaid balances at an annual interest rate not to exceed the rate of the index of average yield on United States Treasury securities adjusted to a constant maturity of one year as made available by the Federal Reserve Bank at the time the assessment ordinance was adopted. Such installments shall become due at the same time that real estate taxes become due and payable in the locality in which the assessment was made, and the amount of each installment, including principal and interest, shall be shown on a bill mailed, not later than 14 days prior to the installment due date, to each such person by the treasurer.
In cities, the council, in its discretion, may cause the payment of the amount assessed or apportioned against each landowner, or fixed by agreement with him, for improving sidewalks upon streets or for improving and paving alleys to be made in such manner divided into such installments as shall be determined by the council, bearing interest at such rate as shall be fixed by the council.
If an assessment is made under the provisions of this article for the installation of street lights, the locality making the assessment may provide by ordinance that the actual costs of installing, maintaining and operating such street lights be charged to and collected from each landowner as a separate component of the locality's billing system for any public utility.
1964, c. 304, § 15.1-249.1; 1978, c. 15; 1983, c. 179; 1987, c. 201; 1989, c. 171; 1997, cc. 587, 601; 1999, c. 386; 2003, c. 198.
Structure Code of Virginia
Title 15.2 - Counties, Cities and Towns
Chapter 24 - Service Districts; Taxes and Assessments for Local Improvements
§ 15.2-2400. Creation of service districts
§ 15.2-2401. Creation of service districts by court order in consolidated cities
§ 15.2-2402. Description of proposed service district
§ 15.2-2402.1. Change to service district boundaries
§ 15.2-2403. Powers of service districts
§ 15.2-2403.1. Creation of urban transportation service districts
§ 15.2-2403.2. Virginia Wallops Research Park Leadership Council established
§ 15.2-2403.4. Community improvement districts
§ 15.2-2404. Authority to impose taxes or assessments for local improvements; purposes
§ 15.2-2406. How cost assessed or apportioned
§ 15.2-2408. Notice to landowner of amount of assessment
§ 15.2-2409. How notice given; objections
§ 15.2-2410. Appeal to court; duty of clerk of governing body, etc.
§ 15.2-2411. How such appeal tried; lien of judgment; when to take effect; how enforced
§ 15.2-2412. Docketing of abstracts of resolutions or ordinances
§ 15.2-2413. Installment payment of assessments
§ 15.2-2413.2. Filing of tourism improvement district plan
§ 15.2-2413.3. Petition for a proposed tourism improvement district
§ 15.2-2413.4. Hearing on a proposed tourism improvement district
§ 15.2-2413.5. Establishment or extension of the tourism improvement district
§ 15.2-2413.6. Local ordinances related to tourism improvement districts
§ 15.2-2413.7. Amendment to the tourism improvement district plan
§ 15.2-2413.9. Expenses of the tourism improvement district