§ 9314 Late Assessment Interest Rate

• •If you don't pay your assessment in full within 30 days, you'll owe extra money called interest.
• •The interest rate is 7% per year.
• •The interest starts adding up after the 30-day period is over.

If you get a bill for $100 and don't pay it within 30 days, you'll owe more money.

After 30 days, the bill starts growing by 7% every year until you pay it.