NC H395

Counties may authorize property assessment payments in semiannual or annual installments instead of requiring full payment within 30 days of assessment roll confirmation.

Maximum number of installments allowed is 40 for semiannual installments or 20 for annual installments.

For semiannual installments, counties may require first payment on property tax due date or 60 days after assessment roll confirmation, with subsequent payments due every six months.

For annual installments, counties may require first payment on property tax due date or 60 days after assessment roll confirmation, with subsequent payments due annually.

Act takes effect upon becoming law and applies to assessments with confirmation dates on or after the enactment date.