160A-239.5. (See note for expiration of Article) Payment of assessments by installments.
(a) An assessment imposed under this Article is payable in annual installments. The city council must set the number of annual installments, which may not be more than 25. The installments are due on the date that real property taxes are due.
(b) The city council may provide for the abeyance of assessments as authorized in Article 10 of this Chapter. The abeyance may apply to any assessed property. Annual installments shall be deferred until the period of abeyance ends. The assessment shall be payable on the first annual installment payment date after the period of abeyance ends. (2008-165, s. 3; 2013-371, s. 3; 2015-121, s. 4; 2017-40, s. 2.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 160A - Cities and Towns
Article 10A - Special Assessments for Critical Infrastructure Needs.
§ 160A-239.1 - (See note for expiration of Article) Purpose; sunset.
§ 160A-239.2 - (See note for expiration of Article) Assessments.
§ 160A-239.3 - (See note for expiration of Article) Petition required.
§ 160A-239.5 - (See note for expiration of Article) Payment of assessments by installments.
§ 160A-239.6 - (See note for expiration of Article) Revenue bonds.
§ 160A-239.7 - (See note for expiration of Article) Project implementation.