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SECTION 10. IMPOSITION OF ASSESSMENTS. <br /> (A) Unless prepaid, Assessments shall be imposed against all real property <br /> located within the MSBU and collected over a period of fifteen (15)years. The first annual <br /> Assessment will be included on the ad valorem tax bill mailed in November 2025. <br /> (B) In accordance with Section 206.08 of the Ordinance, when imposed the <br /> Assessment shall constitute a lien upon the Tax Parcels located in the MSBU, which lien <br /> shall be equal in rank and dignity with the liens of all state, county, district, or municipal <br /> taxes and special assessments. Except as otherwise provided by law, such lien shall be <br /> superior in dignity to all other prior liens, mortgages, titles, and claims, until paid. <br /> SECTION 11. ASSESSMENT UNITS. To reflect the relative amount of special <br /> benefit to be derived from provision of the Culvert Replacement Project, all Tax Parcels <br /> within the MSBU shall be assessed based on the number of Platted Lots included within <br /> that Tax Parcel. <br /> SECTION 12. PREPAYMENT AMOUNTS. <br /> (A) Upon adoption of the Final Assessment Resolution, an Initial Prepayment <br /> Amount for each Tax Parcel located within the MSBU shall be calculated as the sum of(1) <br /> the amount computed by (a) dividing the number of Platted Lots attributable to such Tax <br /> Parcel by the total number of Platted Lots attributable to all Tax Parcels within the MSBU, <br /> and (b) multiplying the result by the estimated Capital Cost of the Culvert Replacement <br /> Project. <br /> (B) After the expiration of the time period established by the County in the Final <br /> Assessment Resolution during which it will accept the Initial Prepayment Amount, an <br /> Adjusted Prepayment Amount for each Tax Parcel shall be calculated as provided in <br /> 10 <br />