Penalty for Late Payment of Assessment or Installment

  1. Law
  2. Tennessee Code
  3. Consolidated Governments and Local Governmental Functions and Entities
  4. Central Business Improvement District Act of 1971
  5. Assessments and Damages
  6. Penalty for Late Payment of Assessment or Installment

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In case of failure to pay any assessment, or installment, on or before the date prescribed by the governing body for such payment, there shall be added to the assessment a penalty of one half of one percent (0.5%) per month of the amount of such assessment or installment.


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