What is the term of my assessment?

For general assessments, the assessment is payable over a number of years determined by the type of improvement. The interest rate will be the estimated municipal bond rate at the time of the bond sale in the market plus 2%. 

For roadway rehabilitation projects, the assessment is payable over 15 years. The interest rate will be the estimated municipal bond rate at the time of the bod sale in the market.

Show All Answers

1. What are special assessments?
2. When is the assessment placed on my property?
3. For roadway rehabilitation projects, why does the city levy the assessments for the project before it starts?
4. What is the term of my assessment?
5. Can I defer the assessment?
6. What are the payment options?