Municipal Service Benefit Unit Public Hearing Overview
Overview of the upcoming public hearing on the non-ad valorem rate schedules and assessment rolls for seven Municipal Service Benefit Units (MSBUs) on June 25, 2019. The background, purpose, proposed rates, and requested action for the MSBUs, including details on funding, assessments, and budget allocations for various subdivisions.
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Presentation Transcript
MSBU PUBLIC HEARING June 25, 2019
PURPOSE Public hearing on the non-ad valorem rate schedules and assessment rolls for 7 municipal service benefit units (MSBUs)
OUTLINE Background Proposed Rates Public Hearing Requested Action
BACKGROUND MSBU Program Street Lighting Picciola Island Valencia Terrace Village Green Sylvan Shores Homeowners Associations Greater Groves Greater Hills Greater Pines
BACKGROUND The MSBUs fund the cost of municipal services for 7 subdivisions MSBU program has been in place since 1994 The assessments are collected on the property tax bill for each lot within the subdivisions First Class Notices act as a TRIM notice every 5 years
BACKGROUND A public hearing is required, and is held every 5 years to adopt the assessment rates Street Lighting Assessments Collected on the tax bill Utility invoices are paid directly Street lighting MSBU budgets are based on prior years utility costs Homeowners Association (HOA) Assessments Collected on the tax bill Reimbursed back to the HOA in quarterly payments Budgets are determined by the HOA
PROPOSED RATES MSBU FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 Greater Groves $550.00 $577.50 $606.38 $636.70 $668.54 Greater Hills $442.85 $464.99 $488.24 $512.65 $538.28 Greater Pines $582.27 $611.39 $641.96 $674.06 $707.76 Picciola Island $24.62 $25.85 $27.14 $28.50 $29.93 Valencia Terrace $64.59 $67.82 $71.21 $74.77 $78.51 Village Green $73.56 $77.24 $81.10 $85.16 $89.42 Sylvan Shores $52.94 $55.59 $58.37 $61.29 $64.35
REQUESTED ACTION Request approval of the non-ad valorem rate schedules and assessment rolls for FY 2020 FY 2024 as presented: MSBU FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 Greater Groves $550.00 $577.50 $606.38 $636.70 $668.54 Greater Hills $442.85 $464.99 $488.24 $512.65 $538.28 Greater Pines $582.27 $611.39 $641.96 $674.06 $707.76 Picciola Island $24.62 $25.85 $27.14 $28.50 $29.93 Valencia Terrace $64.59 $67.82 $71.21 $74.77 $78.51 Village Green $73.56 $77.24 $81.10 $85.16 $89.42 Sylvan Shores $52.94 $55.59 $58.37 $61.29 $64.35
