Payment of Land Improvement Tax (Article 56)
- The final Land Improvement Tax is paid in five equal annual installments, the first of which becomes due on the first day of July of the following year, after the year in which the assessment schedules are notified.
- The final Land Improvement Tax resulting from irrigation projects is paid in ten equal annual installments, the first of which becomes due on the first day of July of the fourth year following the year in which the assessment schedules are notified.
- Interest applies automatically at a rate of 1% per month on the value of each installment not paid when due.
- The taxpayer may request the postponement of one installment only once, for a maximum period of two years, against interest at a rate of 5% annually.
- The full tax, or the remaining balance thereof, is paid in one installment when the property subject to improvement is sold voluntarily or by compulsory sale.