Assessment installment payments are collected annually via property tax bills. Financing charges are assigned on an annual basis. An assessment balance may be paid in full at any time without penalty. A Satisfaction of Lien document will be issued by the MSBU Program whenever an assessment balance is paid in full. The final installment will be billed in tax year 2032 (unless assessment balance is paid in full sooner). Refer to Payoff Schedule table for details.
A community-based application requesting creation of this MSBU was received in 2011. The petition process demonstrated a community-wide support of 89%. The requested MSBU was created in 2012 by the Board of County Commissioners following a public hearing, and equitable assessment liens (based on project cost estimates) were filed against all benefited property. The construction phase of the project was completed in 2013. Final assessment amounts (based on actual project cost) were established as $10,114.50 per benefitted property. When the final assessment amount was established, property owners were given the option of paying the assessment in full or paying the assessment in equal installments over a 20 year period. For financing details, refer to the governing ordinance document and/or Payoff Schedule table. Installment billing was initiated via the 2013 property tax bill.