*This equates to total payments of $14,800.00 per lot over the 25-year period (total assessment of $6,898.92 plus interest of $7,901.08), assuming all installments are paid by the due date each year.
The property owners of record in the District are determined by ownership as of January 1 each year. Those who opt to finance payment of the assessment will be billed annually for each installment on their property tax statements (usually in October). Each installment of the assessment is due and payable at the same time property taxes are due and payable to the City (i.e., by January 31 of the following year). Delinquent payment of installments will be assessed penalty and interest at the same rate as that of property taxes.