The notice contains the final assessment, installment interest rate and payment options. The remaining balance of the total LID assessment roll, following the prepay period, is financed by the sale of municipal bonds. Each individual LID assessment is automatically billed in ten annual installments plus interest. LID installments Annual installments are mailed 45 days prior to the due date. The annual due date is the anniversary date of the last day of the 30 day prepay.
Interest is computed annually the day following the installment due date.
The balance of the LID assessment may be paid off at anytime. Deferral of LID LID deferrals are available through the Cowlitz County Assessor. Application must be made annually. The deferral is due and payable upon sale of property or death of qualified applicant. Chapter 14 discusses Local Improvements i.e., Local Improvement Districts.