The assessment placed upon the tax duplicate by the City for the cost of the abatement of non-compliance as is provided in Section 551.04 of this Chapter shall be paid by the property owner in one lump sum or five equal annual installments, provided, however, that whenever the unpaid balance of an amount assessed is one hundred dollars ($100.00) or less, it shall be fully due and payable upon the date of the next annual payment. Assessments paid in installments shall include an interest charge equal to the annual rate of interest as notified to the County Auditor by the tax commissioner pursuant to Section 5703.47 of the Ohio Revised Code of four percent per annum in effect as of the date of the original assessment amount. Upon proof satisfactory to the City that payment in five annual installments will create a serious economic hardship to the property owner, the City Treasurer may authorize a longer repayment period.
(Ord. 18-22 AC CMS. Passed 5-7-18.)