ASSESSMENT PAYMENT, INTEREST & LIENS
COLLECTIONS AND PROPERTY LIENS
1). Invoices for the coming year will be mailed in early December with our Annual Report;
2). The due date is January 31, 2021;
3). Late notices will be mailed in March/April with the reminder that we can implement late fees and interest as per our Ordinance and Bylaws (see below):
Each assessment authorized pursuant to this ordinance is collectible. On the first of each month, beginning with April 1 of the year in which the assessment is due and continuing thereafter until the assessment is paid, the FKABID has the authority to charge 1.5% per month on any unpaid assessment or unpaid portion of an assessment.
In addition to the assessment and any interest penalties, any fees for actual costs associated with filing the lien shall be added to principal and interest to cover costs associated with the filing of the lien.
4). The delinquency notice will request full payment by May 15th, with the implementation of 1.5% per month for lateness, starting June 1st.
5). On September 1st of each year, we will evaluate the still outstanding invoices to determine if the filing of liens, as per our Ordinance, is warranted. We will evaluate by the amount due, the owner, and how long the delinquency is in place. This provision is the last resort, and our annual budget reflects a percentage of non-payment each year.
6). Starting January 1, 2021, we will begin charging 1.5% monthly interest for any stakeholder that has not paid their 2020 assessment.