Guam § 60610 - Election to Amortize Special Assessment.

§ 60610. Election to Amortize Special Assessment.

The taxpayer may, on or before the date when the first half

of property taxes is due, elect to pay in annual installments the

amount of the special survey assessment in either five (5) or ten

(10) years, without interest, or pay the same in full, as other

property taxes, within the year. If the taxpayer elects to pay in

installments, the tax collector shall collect the amount due in

accordance with such election and credit each payment to the

special assessment portion of the tax bill and after each installment

show the balance of the assessment. Thereafter, the unpaid

balance and the annual installment shall not be construed as

preventing the owner of land subject to the assessment from

paying the unpaid balance at any time. All special assessment

collections shall be credited to the Land Survey Fund.