Early payoff of deferred special assessments for Lake Zumbro dredging project
Some property owners in the Lake Zumbro Improvement District who received special assessments in the fall of 2018 in connection with the lake dredging project initially opted to defer payment of their special assessments for a period of 10 years with interest accruing on the unpaid balance until it was paid in full. Some of those impacted property owners have indicated they wish to pay off those deferred assessments early.
Early repayment of these deferred special assessments is permitted. Special assessments (when included on the tax statement) are split between first and second half tax payments equally. This means, if the first half is not paid on time, then penalties will begin to accrue on May 16, and will continue to accrue until the first half taxes are paid in full. For the Lake Zumbro special assessments, this means that landowners must pay their annual special assessment along with their property taxes – one half with first-half property taxes, and the last half with second half property taxes. Doing this should avoid having to pay any penalties on the unpaid special assessment balance. The county auditor for each county should be able to calculate a payoff amount for the special assessments owed for a particular year, as well as a total payoff amount for the unpaid balance for all years since the assessment was first imposed, depending on where your property is located.
You can reach the Olmsted County auditor in the Property Records and Licensing Department at 507 328-7637. You can reach the Wabasha County Auditor's Office at 651-565-2648.
Lake Zumbro dredging project information
Lake Zumbro dredging project special assessment information