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In our last blog – we discussed, Unconfirmed Assessment.  Now, let’s turn to when an Unconfirmed Assessment becomes a Confirmed Assessment. This will happen once the improvement is complete. The governing body will then announce its intention to bill for the improvement in the same way the improvement plan itself is announced – by notice passed to all affected property owners, inviting each to attend a hearing where the municipality will announce its plans. As with the first meeting, the announcement is posted at least 10 days prior to the hearing, posted in local papers an in five public places in the municipality. Once billing is calculated, a Confirmed Assessment is levied against the impacted lot. 

Once the benefit’s assessment is finalized, the municipality takes the necessary steps to confirm the assessment for payment from the property owner. This assessment is typically paid to the municipality in exchange for the municipality completing and subsidizing work that increased the property’s perceived value. The standard calls for payment via 10 equal installments, payable over 10 years. The homeowner has two months to pay the initial installment before it’s deemed delinquent and subsequent payments are handled similar to all other tax payments with relation to penalties, interest and tax sale eligibility. At closing, all Confirmed Assessments must be paid in full, as installments are non-transferable.

Fred Burnett

Vice President, Operations

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