When a special assessment tax is levied pursuant to this Division for installation of street lights, payment of the tax shall be made according to the following schedule: less than $150.00 due in one lump sum $150.00 to $300.00 2 equal annual installments $301.00 to $450.00 3 equal annual installments in excess of $450.00 5 equal annual installments The notice of special assessment sent to the property owners concerned shall show the total amount of the special assessment tax for street lighting to be paid by the individual property owner, along with a schedule of the installments that will appear on the tax bill for the current and succeeding years.