Tennessee Code 7-84-418 – Penalty for late payment of assessment or installment
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Terms Used In Tennessee Code 7-84-418
- Governing body: means the council or commission or other municipal body exercising general legislative power in the municipality or any county legislative body. See Tennessee Code 7-84-103
- Month: means a calendar month. See Tennessee Code 1-3-105
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.