Assessments Street Reclaim and Pave Unit Assessment 50% of Street - - PowerPoint PPT Presentation

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Oct 18, 2022 308 likes •427 views

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

SLIDE 1

Assessments

Street Reclaim and Pave
Unit Assessment
50% of Street Cost
r
2020 Typical Lot Fee

Schedule

$2,520
Curb and Gutter
Unit Assessment
50% of Curb & Gutter Cost
r
2020 Typical Lot Fee

Schedule

$765.00

SLIDE 2

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

SLIDE 3

Assessments

Streetlights
Unit Assessment
50% of Streetlight Cost or
2020 Typical Lot Fee

Schedule

$1,120

SLIDE 4

Unit Assessment Summary

Street, Curb and Drainage
Reclaim and Pave $2,250
Curb and Gutter 765
Drainage

2,153

Streetlight

1,120

TOTAL

$6,558

63 Units
8 Year Term
Prime Interest Rate Plus

One Point

Street and Drainage
Reclaim and Pave $2,250
Drainage

2,153

Streetlight

1,120

TOTAL

$5,793

86 Units
7 Year Term
Prime Interest Rate Plus

One Point

SLIDE 5

Unit Assessment Summary

Street and Streetlight
Reclaim and Pave $2,520
Streetlight

1,120

TOTAL

$3,640

21 Units
5 Year Term
Prime Interest Rate Plus

One Point

Streetlight
Streetlight

$1,120

TOTAL

$1,120

25 Units
2 Year Term
Prime Interest Rate Plus

One Point

SLIDE 6

Assessment Exhibit

SLIDE 7

Amortization Schedule – Streets, Drainage, Curb

and Gutter, and Street lights – 8 Year Term

PAYMENT SCHEDULE YEAR PRINCIPLE PAYMENT INTEREST PAYMENT – 6.0% T0TAL PAYMENT PRINCIPLE 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

SLIDE 8

Amortization Schedule – Streets, Drainage, and

Street lights – 7 Year Term

PAYMENT SCHEDULE YEAR PRINCIPLE PAYMENT INTEREST PAYMENT – 6.0% T0TAL PAYMENT PRINCIPLE 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

SLIDE 9

Amortization Schedule – Streets, and Street lights

– 5 Year Term

PAYMENT SCHEDULE YEAR PRINCIPLE PAYMENT INTEREST PAYMENT – 6.0% T0TAL PAYMENT PRINCIPLE 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

SLIDE 10

Amortization Schedule – Street lights

– 2 Year Term

PAYMENT SCHEDULE YEAR PRINCIPLE PAYMENT INTEREST PAYMENT – 6.0% T0TAL PAYMENT PRINCIPLE REMAINING $1,120.00 1 2021 $560.00 $78.40 $638.40 $ 560.00 5 2022 $560.00 $33.60 $593.60 $ 0.00

SLIDE 11

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 15th in any subsequent year. Payment

must pay off a levy number.

Partial payments are not allowed.