Amends GS 153A-199 (payment of county special assessments in full or by installments) to do the following:
(1) Provide that special assessment installment payments, if offered by the county, may be either annual or semi-annual;
(2) Cap the number of installment payments for special assessments to 40 for semi-annual installments and 20 for annual installments;
(3) Provide that semi-annual installments either (i) begin with the first installment due on the day property taxes are due with future installments due on the same day in each successive six month period or (ii) begin with the first installment due 60 days after the assessment role is confirmed with future installments due on the same day in each successive six month period; and
(4) Provide that annual installments either (i) begin with the first installment due on the day property taxes are due with future installments due on the same day in each successive year or (ii) begin with the first installment due 60 days after the assessment role is confirmed with future installments due on the same day in each successive year.
Effective when the bill becomes law and applies to assessments made on or after that date.