MI HB5202

Special assessment installments must have each subsequent installment be at least half the amount of the previous installment, with installment amounts extended to the special assessment roll only after confirmation.

First installment of special assessment is due on or before a date determined by the township board after confirmation; subsequent installments are due at 12-month intervals or on a date determined by the township board.

Unpaid installments bear annual interest at a rate set by the township board not exceeding 1% above the average rate on special assessment bonds issued by the township, county, drainage district, or authority; capped at 8% per annum if no bonds are issued.

Property owners may pay future installments in full to the township treasurer at any time, with interest accrued through the month in which the final installment is paid.

Liens on assessed property are limited to individual installments and only attach when that specific installment becomes due; township treasurer must provide lien statements upon written request showing accrued interest through the end of the month provided.