When assessments due and payable; payment of assessments in installments.

Memphis Charter, art. 53, § 511

in effect

Sec. 511. - When assessments due and payable; payment of assessments in installments. All assessments levied by virtue of this Act shall be due and payable within thirty days after the assessment is made final as aforesaid, but at the election of the property owner, to be expressed by notice as hereinafter provided, said assessment may be paid in five annual installments, and shall bear interest at the rate of six percent per annum, interest payable annually. A property owner desiring to exercise the privilege of payment by installments shall, before the expiration of the thirty days aforesaid, enter into an agreement in writing with the municipality that in consideration of such privilege he will make no objection to any illegality or irregularity with regard to the assessment against his property, and will pay the same as required by law with the specified interest. Such agreement shall be filed in the office of the Comptroller of the municipality, and in all cases where such agreement has not been signed and filed within the time limited, the entire assessment shall be payable in cash without interest before the expiration of said thirty days; provided, that any property owner who shall have elected to pay his assessment in five annual installments shall have the right and privilege of paying up the assessment in full at any installment period by paying the full amount of the installments, together with all accrued interest thereon. Should such property owner elect to pay off his installments in full between the installment periods, all assessments or installments thereof shall be payable to the City tax receiver or treasurer, whose duty it shall be to receive the same and give proper credits therefor and enter the proper credit and satisfaction. (Acts 1907, ch. 341, § 7; Priv. Acts 1937, ch. 123, § 18)

Source: City of Memphis, Code of Ordinances and Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/tn/memphis/codes/charter?nodeId=PTICHRELA_ART53STIMUNFRFOASLA_S511WHASDUPAPAASINFetched: 10/28/2026