Lien of deferred installments.

No deferred installment of the amount assessed as between vendor and vendee, mortgagor and mortgagee shall become a lien upon the property against which it is assessed and levied until June 30 of the preceding fiscal year in which it is due and payable. [SS15, §1989-a12; C24, 27, 31, 35, 39, § 7488; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §455.67 ] 89 Acts, ch 126, §2 CS89, §468.60 Referred to in §468.57 , 468.127