Tax Bill Name:
POWAY UNF CFD 15 #D
Fund Name:
Community Facilities District No. 15, Impv Area D
Documents on File: 15
TaxType: Mello-Roos Community Facilities District
Summary:
Community Facilities District No. 15, Improvement Area D was established pursuant to the Mello-Roos Community Facilities Act of 1982. Qualified electors authorized the district in 2012 along with the issuance of up to $15,000,000.00 in bonded indebtedness. Bonds were issued to pay for certain public facilities and/or services that benefit the district. A special tax is levied on properties in the district to pay the interest and principal on the bonds as well as administrative expenses.
Facilities:
Proceeds from the sale of Bonds and the special taxes collected will be used to finance Transportation improvements, park improvements, fire station improvements, library improvements, water/sewer improvements, city approved construction plans and drawings for camino del sur paid for by owner, and non-future benefit assessment - streets and arterials to support school facilities. chool Facilities shall also mean the acquisition, planning, construction, and/or financing of other additional school facilities, including classrooms, multi-purpose, administration and auxiliary space at each school, central support and administrative facilities, interim housing, transportation, and special education facilities, together with furniture, equipment, and technology, needed by the School District
Services:
None
Calculation:
Each parcel is assigned a maximum special tax, which is typically based on development status, property use, and/or size of improvements. The actual annual special tax is based on the interest and principal due on the bonds for the current fiscal year, services costs, if any, and administrative expenses. However, the actual annual special tax cannot exceed the applicable maximum special tax.
Increases:
Each July 1, commencing July 1, 2013, the Assigned Annual Special Tax for each Assessor's Parcel of Developed Property shall be increased by two percent (2.00%) of the amount in effect the prior Fiscal Year..
How Long:
Annual Special Taxes shall be levied for a period of thirty-three (33) Fiscal Years after the last series of Bonds have been issued, provided that Annual Special Taxes shall not be levied after Fiscal Year 2055-2056.
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