48-985. Prepayment of assessment
A. An owner may elect to pay the total amount of the assessment levied on a lot or tract of land owned by him, or the unpaid balance thereof if a part has been paid.
B. When an owner has prepaid an assessment on any lot or tract of land, such lot or tract shall not thereafter be subject to annual assessment and interest installment levies therefor.
C. When any owner elects to pay off his assessment, the treasurer shall ascertain what bonds may be called by reason thereof and the amount which the owner shall pay therefor, which shall be the total of the following sums:
1. The amount of any delinquent installments of principal and interest, together with penalties, interest and costs due thereon.
2. Any installment of principal and interest which has been posted to the tax roll for the current fiscal year.
3. The unpaid balance of principal thereof, plus a premium computed as provided in section 48-986, subsection B.
4. An amount to be fixed by the treasurer for publishing a notice calling the bonds, if notice is to be published.
5. Interest to the date of call on the amount of principal to be used for call, less the amount of interest provided in paragraph 2 of this subsection. If the amount of principal paid is in excess of the amount for which bonds may be called, additional interest shall be collected on the excess amount for an additional one year.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.