If the assessment isn’t paid within 30 days, it will be certified to Dakota County and added as a special assessment line item to your property tax statement.
Interest will be charged to property owners who do not pay their assessments within 30 days. The interest rate is determined by adding 2 percent to the cost the City encountered when most recently selling bonds for special assessments. The rate will be rounded up to the nearest 0.5 percent.
The term is based on the total special assessment amount:
$1 - $199.99 1 year $200 - $999.99 5 years $1,000 - $1,999.99 10 years $2,000 and over 15 years