7-64-104 - Deferral Lien for unpaid taxes [For contingent amendment, see the Compiler's Notes].
7-64-104. Deferral Lien for unpaid taxes [For contingent amendment, see the Compiler's Notes].
(a) Whenever a deferral of real property taxes is granted, assessment of such taxes shall continue on an annual basis; however, they shall not become due and payable until the deferral is terminated.
(b) The unpaid balance of assessed real property taxes shall constitute a lien against such property, and shall be subject to interest at the rate of ten percent (10%) a year. Such accrued taxes and such interest shall be a lien of the first priority on the property in the particular local government. Such a lien shall remain in effect until the taxes and interest are paid.
(c) The tax deferrals created by this part shall not be subject to the statutory penalties imposed on delinquent taxes, and the lien created in the local government shall not be subject to any applicable statute of limitation.
[Acts 1980, ch. 831, § 1; 1998, ch. 803, § 4.]