Assessments • Street Reclaim and Pave • Unit Assessment • 50% of Street Cost or • 2020 Typical Lot Fee Schedule • $2,520 • Curb and Gutter • Unit Assessment • 50% of Curb & Gutter Cost or • 2020 Typical Lot Fee Schedule • $765.00
Assessments • Storm Drainage Improvements • Unit Assessment • Storm Sewer Project Cost Divided by Number of Units • $2,153 • Typical Lot Fee Schedule • $3,020 • Draintile • Unit Assessment • Draintile Project Cost • $1,200
Assessments • Streetlights • Unit Assessment • 50% of Streetlight Cost or • 2020 Typical Lot Fee Schedule • $1,120
• Street, Curb and Drainage • Street and Drainage Unit • Reclaim and Pave $2,250 • Reclaim and Pave $2,250 Assessment • Curb and Gutter 765 • Drainage 2,153 • Drainage • Streetlight 2,153 1,120 Summary • Streetlight • 1,120 TOTAL $5,793 • TOTAL $6,558 • 63 Units • 86 Units • 8 Year Term • 7 Year Term • Prime Interest Rate Plus • Prime Interest Rate Plus One Point One Point
• Street and Streetlight • Streetlight Unit • Reclaim and Pave $2,520 • Streetlight $1,120 Assessment • Streetlight • 1,120 TOTAL $1,120 • TOTAL $3,640 Summary • 21 Units • 25 Units • 5 Year Term • 2 Year Term • Prime Interest Rate Plus • Prime Interest Rate Plus One Point One Point
Assessment Exhibit
Amortization Schedule – Streets, Drainage, Curb and Gutter, and Street lights – 8 Year Term PAYMENT YEAR PRINCIPLE INTEREST T0TAL PAYMENT PRINCIPLE SCHEDULE PAYMENT PAYMENT – 6.0% REMAINING $6,558.00 1 2021 $819.75 $459.06 $1,278.81 $5,738.25 2 2022 $819.75 $344.30 $1,164.05 $4,918.50 3 2023 $819.75 $295.93 $1,114.86 $4,098.75 4 2024 $819.75 $245.11 $1,065.68 $3,279.00 5 2025 $819.75 $196.74 $1,016.49 $2,459.25 6 2026 $819.75 $147.56 $ 967.31 $1,639.50 7 2027 $819.75 $ 98.37 $ 918.12 $ 819.75 8 2028 $819.75 $ 49.19 $ 868.94 $ 0.00
Amortization Schedule – Streets, Drainage, and Street lights – 7 Year Term PAYMENT YEAR PRINCIPLE INTEREST T0TAL PAYMENT PRINCIPLE SCHEDULE PAYMENT PAYMENT – 6.0% REMAINING $5,793.00 1 2021 $827.57 $405.51 $1,233.08 $4,965.43 2 2022 $827.57 $297.93 $1,125.50 $4,137.86 3 2023 $827.57 $248.27 $1,075.84 $3,310.29 4 2024 $827.57 $198.62 $1,026.19 $2,482.71 5 2025 $827.57 $148.96 $ 976.53 $1,655.14 6 2026 $827.57 $ 99.31 $ 926.88 $ 827.57 7 2027 $827.57 $ 49.65 $ 877.23 $ 0.00
Amortization Schedule – Streets, and Street lights – 5 Year Term PAYMENT YEAR PRINCIPLE INTEREST T0TAL PAYMENT PRINCIPLE SCHEDULE PAYMENT PAYMENT – 6.0% REMAINING $3,640.00 1 2021 $728.00 $254.80 $982.80 $2,912.00 2 2022 $728.00 $174.72 $902.72 $2,184.00 3 2023 $728.00 $131.04 $859.04 $1,456.00 4 2024 $728.00 $ 87.36 $815.36 $ 728.00 5 2025 $728.00 $ 43.68 $771.68 $ 0.00
Amortization Schedule – Street lights – 2 Year Term PAYMENT YEAR PRINCIPLE INTEREST T0TAL PAYMENT PRINCIPLE SCHEDULE PAYMENT PAYMENT – 6.0% REMAINING $1,120.00 1 2021 $560.00 $78.40 $638.40 $ 560.00 5 2022 $560.00 $33.60 $593.60 $ 0.00
Assessment Payment Methods: • Payment without Interest • Pay assessed amount or a portion of the assessment within 30 days after the Assessment Hearing. • Payment with Interest • Pay assessed amount with annual property tax statement for the term of the assessment at the designated interest rate. • Pay remaining balance by November 15 th in any subsequent year. Payment must pay off a levy number. • Partial payments are not allowed.
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