Once an LID is finalized, the property owner will be mailed a letter with the payment options, which are as follows:

Pay the final assessment by the due date indicated on that letter, typically 30 days after passage of the ordinance confirming the final assessment role.
If the final assessment is not paid by the due date indicated on the letter, it will become a lien on the property and will be payable over a period of time, typically ten years. It will be payable in annual installments of principal, the first of which shall be due and payable one year from the passage of the ordinance confirming the final assessment role. The remainder of said installments shall be due and payable successively on or before the same day each year thereafter until paid in full, with interest accruable at a rate set forth in the ordinance of the final assessment role (typically between 4.5 and 6%, but varies depending on market rates available at the time the LID is confirmed as final), said interest running from the date of the passage of the ordinance confirming the final assessments, and being payable at the same time and place as the installment payments of assessments.
Same as option two above, except the Engineering Department will collect the annual assessment of principal and interest within the 12 months prior to when the annual assessment is due through a Utility Bill account. To select this option, a completed form authorizing the City to add an LID assessment to a utility bill must be received. A form is considered complete if it contains an LID account number, a Utility Billing account number, a specified monthly utility bill amount as determined by the City of Rexburg Finance Department, a phone number, a signature from an authorized party, and the date said document was signed. To request a form, please contact the Finance Department at 208-359-3020.

City of Rexburg

City of Rexburg