Assessment Management Group

Special Assessments - Penalty Calculation

Penalties are added immediately, as provided by law, when the assessment payment becomes delinquent. The penalty is calculated at 2% of the sum of the current principal balance and the billed interest per month. To avoid penalties, payment must be received or postmarked on or before the payment due date.

Example Calculation:

Unbilled Principal:	$4,500.00
Billed Principal:	$500.00
Billed Interest:	$125.00
*Interest is based on an estimated 5% per annum

Unbilled Principal + Billed Principal and Billed Interest: $5,125.00

Penalty rate 2%: x .02 ($5,125.00 X .02)

Penalty per month:	$102.50
*per month, not prorated for any portion of the month. Charged each month until the total due is paid in full

Example of Delinquent bill:

Principal Interest Penalty Total Due

$500.00 $125.00 $102.50 $727.50

Return to Delinquencies and Foreclosures

Absolute Commitment to Superior Service, Resources, and Technology.
Assessment Management Group
Office: 702-796-0082 | Fax: 702-796-8826

* Installment Billings * Communications with Property Owners * Delinquent Billings * Payoffs * Lien Releases * Lockbox Analysis * Revenue Sufficiency Analysis * Bond Redemptions * Reserve Fund Maintenance * 1098 Statements * Foreclosure * Certificates of Sale * Title Company Communications * Mortgage Company Communications * Tax Service Coordination *