Since we canceled the first meeting in July, it's been a little while since my last update. We will meet tomorrow night to discuss a couple significant items:
- We will discuss the annual tax levy for the Clayton Benefit Assessment District (BAD). This affects 24 parcels east of Regency Drive primarily on Seminary Ridge and Promontory Place. The levy is to cover maintenance, landscaping, drainage, etc. for these properties and was set up originally by the builder in order to have the costs for these particular parcels pay for themselves. Self funding districts have been a preferable method of funding improvements as the assessments are levied on new developments as they are approved.
This year the levy is expected to remain flat - no increase over the prior year assessment. The BAD is similar to an HOA where reserves are built up over time to cover projected maintenance and replacement of items within the BAD's responsibility.
- The Oakhurst Geological Hazard Abatement District (GHAD) will also meet to confirm real property assessments for the fiscal year, with increases consistent with Consumer Price Index (CPI) of 5%. The type of the parcel determines the amount of the assessment. CPI increases were contemplated with the inception of the GHAD and approved by voters. The GHAD does not receive sufficient funds to do significant repair or improvements. It's function is primarily to cover the cost of monitoring soil movement, some minor repairs, and over time has the potential to accumulate funds for some larger restoration work. Typically these would require aggregation of multiple years worth of funding.
If you have any thoughts or questions on the above please let me know.