(a) (1) Any assessments under this Article is due and payable 30 days after the Council adopts the resolution levying the assessment. Until the assessment is paid, the Director of Finance may attach a lien on the property on which the assessment was levied.
(2) The Council may provide in the resolution that assessments may be paid in full at any time or in up to 20 equal annual installments. Each assessment must bear interest on the unpaid balance from the date the Council adopts the resolution at the interest rate paid by the County on its bonds used to finance construction of the road, plus one percent.
(3) The resolution must provide that all or any portion of the assessment may be paid without interest within 90 days after the resolution levying the assessment is adopted, or in equal annual installments starting on the July 1 at least 30 days after the levy of the assessment. Each payment must include interest on the unpaid balance. Any annual installment, together with the interest on it, not paid on or before the September 30 after its due date, is overdue and must be charged additional interest and penalty at the rate prescribed by law for overdue taxes on real property for the full taxable year.
(b) Notwithstanding the provisions of this Section, the Council may by resolution permit a taxpayer to defer the payment of assessments for a period not to exceed 5 years, subject to the following conditions:
(1) The payment deferral must be provided only on assessments connected with property which has been subject to an increased County property tax assessment resulting directly from a government-initiated change in the zoning classification of the property to a higher intensity use. A government-initiated change in the zoning classification of property is a change proposed by the Planning Board.
(2) The property connected with the assessment has been and must be actually occupied by the taxpayer for residential purposes. Any change in use during the period of payment deferral automatically ends the deferral. Any deferred assessment and accumulated interest on it is then immediately due and payable.
(3) The payment deferral ends immediately when the owner of record listed on the tax records when the property was rezoned transfers the property. Any deferred assessment and accumulated interest on it is then immediately due and payable.
(4) The owner must execute an agreement with the County to pay the balance of unpaid deferred assessments and accumulated interest on them immediately if the owner transfers ownership or does not comply with any other condition, or when the specified deferral period expires.
(5) Interest on the unpaid balance of any deferred assessments must accrue from the date of the deferral resolution at the rate specified in this Section.
(6) A first lien must attach to the property for all deferred assessments and accumulated interest on them. (Mont. Co. Code 1965, § 24-39; 1971 L.M.C., ch. 3, § 22; 1978 L.M.C., ch. 34, § 2; 1983 L.M.C., ch. 48, § 1; 2007 L.M.C., ch. 8, § 1.)