H721: Counties/Semiannual Assessment Payments. Latest Version



AN ACT authorizing counties to provide that assessments may be paid in either semiannual or annual installments.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 153A‑199 reads as rewritten:

§ 153A‑199.  Payment of assessments in full or by installments.

(a)        Within 30 days after the day that notice of confirmation of the assessment roll is published, each owner of assessed property shall pay his assessment in full, unless the board of commissioners has provided that assessments may be paid in semiannual or annual installments. If payment by installments is permitted, any portion of an assessment not paid within the 30‑day period shall be paid in semiannual or annual installments. The board shall in the assessment resolution determine whether payment may be made by semiannual or annual installments and set the number of installments, which may not be more than 10.40 for semiannual installments or 20 for annual installments.

(b)        With respect to payment by installment, the board may providepayment:

(1)        By semiannual installments, the board may provide either:

a.         That the first installment with interest is due on the date when property taxes are due, and one installment with interest is due on the same date in each successive six‑month time period until the assessment is paid in full.

b.         That the first installment with interest is due 60 days after the date that the assessment roll is confirmed, and future installments with interest are due on that same day in each successive six‑month time period until the assessment is paid in full.

(2)        By annual installments, the board may provide either:

(1)a.     That the first installment with interest is due on the date when property taxes are due, and one installment with interest is due on the same date in each successive year until the assessment is paid in full, or

(2)b.     That the first installment with interest is due 60 days after the date that the assessment roll is confirmed, and one installment with interest is due on that same day in each successive year until the assessment is paid in full.

SECTION 2.  This act is effective when it becomes law and applies to assessments made on or after that date.