211.768a Payment of deferred special assessments; interest; notice; lien to include interest; refund; reapplication for reinstitution of previously deferred special asses
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211.768a Payment of deferred special assessments; interest; notice; lien to include interest; refund; reapplication for reinstitution of previously deferred special assessment.
Sec. 8a.
(1)Except for an owner or owner's estate qualifying for deferment of special assessments under this act before January 8, 1981, the payment of special assessments deferred under this act made by the owner or owner's estate shall include interest computed for periods after January 8, 1981, at a rate of 1/2 of 1% per month or fraction of a month.
(2)The department shall notify each owner whose special assessments are authorized to be deferred under this act of the interest rate provided in this section.
(3)The lien created in section 6 for special assessments deferred under this act shall include an amount of interest as provided in this section.
(4)The department of treasury shall refund to each owner who, before the effective date of this subsection, paid their special assessment and was subject to the interest payment of subsection (1), an amount equal to the difference between the interest paid and the interest which would have been due at a rate of 1/2 of 1% per month or fraction of a month.
(5)If a deferment of a special assessment was terminated by an owner solely by payment of the deferred special assessment after January 8, 1981, and before the effective date of this subsection, the owner may reapply within 60 days of the effective date of this subsection to the local assessing officer for reinstitution of the previously deferred special assessment and the department of treasury shall refund the amount of the special assessment paid and redeferred to the owner.
History: Add. 1980, Act 403, Imd. Eff. Jan. 8, 1981 ;-- Am. 1981, Act 59, Imd. Eff. June 4, 1981