§ 8937 Assessment Payment Installment Rules

• •After certain bonds are canceled, the board can let people pay assessment number six in smaller chunks twice a year.
• •Each chunk must be at least 3.5% of the total amount owed.
• •This rule was added in 1943 to make payments easier.

If you owe $10,000 for assessment number six, you can pay it in smaller parts twice a year instead of all at once.

The board lets you split the $10,000 into two payments each year. Each payment must be at least $350 (which is 3.5% of $10,000).