§ 5-516 Lien of special assessment. 1. Any provision of law to the contrary notwithstanding, in any case in which a special or local assessment is levied against real property a lien shall attach as of the time when the assessment is confirmed by the body authorized to finally determine the amount of such assessment, and shall continue until paid or cancelled as herein below provided, which lien shall have the same priority as a village tax.

2. Whenever an assessment remains unpaid and is included in the annual tax levy, as provided in section 5-518, the lien thereof shall be cancelled as of the date upon which the annual tax becomes a lien and the lien of the annual tax shall include the amount of such assessment, with penalties.

3. Whenever an assessment remains unpaid and is thereafter divided into annual installments so as to retire obligations as they mature, the lien thereof shall be cancelled as of the date of such division and at that time a lien in the amount of the first installment shall attach, which lien shall continue until cancelled by inclusion of such installment in the next succeeding annual tax levy, in the manner provided above. Subsequent installments, unless prepaid as provided in section 5-518 of this article, shall become liens on the respective anniversary dates of such division and such liens shall be cancelled in the same manner.