§ 8856 Late Assessment Interest Rate

• •If you don't pay your assessment (like a tax or fee) within 30 days, you'll owe extra money called interest.
• •The interest is 7% per year, starting from the day the list of who owes what is given to the county treasurer.
• •The longer you wait to pay, the more extra money you'll owe.

You get a bill for a special fee from the city for $100. You don't pay it within 30 days.

After 30 days, the city will start charging you 7% extra per year on the $100 you owe. So, if you wait a whole year to pay, you'll owe $107 instead of $100.