(a) General rule.--An assessment under this chapter, including past-due amounts and required future payments and any interest or penalties on the assessment:

(1) shall be a first and prior lien against the real property on which the assessment is imposed from the date on which the notice of contractual assessment is recorded and until the assessment, interest or penalty is satisfied;

(2) shall have the same priority status as a lien for any other tax imposed by any agency, municipality or county of the Commonwealth and shall be treated as a tax imposed by any agency, municipality or county;

(3) must be recorded with the title, including all information required under section 4306 (relating to notice), until the lien is discharged; and

(4) may be discharged, compromised or abated in the same manner as delinquent property tax obligations.

(b) Lien.--The lien runs with the land and that portion of the assessment under the assessment contract that has not yet become due is not eliminated by foreclosure of a property tax lien. The assessment cannot be accelerated or extinguished until fully repaid.

(c) Enforcement.--The assessment lien may be enforced by the municipality or county in the same manner that a property tax lien against real property may be enforced by the municipality or county to the extent the enforcement is consistent with the laws of this Commonwealth.

(d) Delinquency charge.--Delinquent installments of the assessments incur interest and penalties in the same manner as delinquent property taxes.

(e) Costs and expenses.--A municipality or county may recover costs and expenses, including attorney fees, in a suit to collect a delinquent installment of an assessment in the same manner as in a suit to collect a delinquent property tax.